XRP Surges Amid Crypto Downturn Fueled by South Korea

XRP is making headlines as it bucks the broader cryptocurrency market decline, showing a significant uptick in trading volume driven largely by investor activity in South Korea. While most major cryptocurrencies experienced declines, XRP emerged as a rare winner, up 4% on the day, capturing the attention of market watchers.

This divergence in performance is closely linked to heightened interest on key South Korean crypto platforms. The South Korean exchange Upbit reported over $1 billion in XRP trading volume in a single 24-hour period—surpassing the combined trading volume of both Bitcoin and Ethereum on the same platform, according to CoinGecko data.

Further cementing the bullish sentiment, a metric known as cumulative volume delta, which measures whether buying or selling tendencies dominate trading flows, has turned positive for XRP. This indicates a wave of aggressive buying, highlighting a strong pro-XRP mood among South Korean traders.

The enthusiasm isn’t limited to Upbit. Other platforms among South Korea’s top four exchanges—namely Bithumb, Korbit, and Coinone—are also experiencing heightened XRP activity. Historically, South Korean trading behavior has had a notable impact on XRP’s performance, underlining the country’s influence on the token’s momentum.

Much of this renewed optimism for XRP corresponds with Ripple’s ongoing legal proceedings. Ripple, the company behind XRP, recently reached a preliminary $50 million agreement with the U.S. Securities and Exchange Commission to settle charges against CEO Brad Garlinghouse and co-founder Chris Larsen. This potential resolution may be renewing investor confidence in the token’s outlook.

Adding to the optimistic climate around XRP, geopolitical developments are playing a role. Analysts highlight how improving relations between major economies such as the United States and China may be creating a more favorable environment for digital asset growth, potentially benefiting XRP in particular.

Geoffrey Kendrick, head of digital assets research at Standard Chartered, has projected an ambitious future for XRP. He envisions the token doubling in value to $5.50 within the year, with longer-term targets that place XRP at $8.00 by 2026 and surpassing $10 by 2027. By 2029, Kendrick forecasts XRP reaching $12.25, a 382% increase from current levels.

Market speculation is also heating up in derivatives trading. On platforms offering perpetual futures—contracts that don’t expire—XRP is attracting a surge of long positions. Market intelligence from Coinglass suggests that longs outnumber shorts at a ratio of three-to-one, the highest margin observed among major cryptocurrencies.

The excitement extends beyond traditional markets and into prediction platforms like Polymarket. There, market participants have dramatically shifted their outlook on XRP. One notable betting market now gives XRP a 78% chance of ending the month above $2.19—double the 40% probability seen just one week ago. Similarly, betting odds have swung to a 56% likelihood that XRP could hit $2.80 this month, a sharp reversal from prior expectations of a drop to $1.90.

These indicators point to a rejuvenated interest in XRP, fueled by regional trading enthusiasm, regulatory developments, and broader market sentiment. While risks remain in the volatile crypto landscape, XRP appears to be riding a wave of optimism unlike much of the competition.

Related: Expert Advice: Sell XRP If You’re Confused