Introduction
XRP, the native token of the Ripple network, has experienced a strong rally, pushing its price close to $3. This rally is mainly attributed to increased retail trading on South Korea’s Upbit platform, which accounted for 70% of the net buy volume in recent days.
For those looking to trade XRP or diversify their crypto portfolio, using reliable platforms like Binance is essential for security and liquidity.
The Role of Upbit in XRP’s Rally
Upbit has become a dominant force in XRP’s market activity, with trading volumes surpassing $500 million in 24 hours, outpacing even Bitcoin and Ethereum on the platform. This highlights the impact of South Korean retail investors on XRP’s price dynamics.
Why Are South Korean Investors Focused on XRP?
The growth of crypto adoption in South Korea, with over 7 million registered users on exchanges, combined with speculative interest linked to upcoming ETF approvals in the US, has fueled demand for altcoins like XRP.
Investment Considerations & Risk Management
Given the volatility typical of retail-driven rallies, investors should exercise caution. Secure storage of XRP and other tokens is critical; hardware wallets like Ledger offer robust protection against hacks.