XRP Trading Frenzy in South Korea Hits $800M – Is a Surge in Sight?

A significant shift is underway in South Korea’s cryptocurrency market, where XRP trading volumes have eclipsed those of Bitcoin and Ethereum. XRP price predictions are running hot.

The country’s largest exchanges — UpBit, Bithumb, and Korbit — reported a staggering $800 million in XRP trading volume in the past 24 hours. 

On UpBit alone, XRP volumes hit $600 million, while Bithumb recorded over $200 million. For comparison, Bitcoin’s trading activity on these platforms was less than half of XRP’s, with Dogecoin and Ethereum lagging even further behind. XRP price predictions for 2025 are running hot as bull market expectations rise.

South Korea’s crypto traders are no strangers to driving rallies. They are known for their ability to fuel intense buying pressure, frequently influencing token prices worldwide. This year, XRP has captured the imagination of South Korean investors, thanks in part to local political and global market developments.

XRP Activity Signals Possible Price Breakout

The rise in on-chain activity is adding fuel to the XRP fire. The average number of transactions per ledger has grown steadily throughout December, a sign of robust network engagement. Increased network activity often precedes significant price changes, reflecting heightened investor interest and potential institutional involvement.

As of now, XRP is trading around $2.08, a relatively stable position within a defined range. This consolidation hints at a possible breakout, with the 50 EMA at $2.18 serving as a critical support level. If this level holds, XRP could climb to retest its $2.18 resistance. Breaking past that point might trigger a rally toward $2.50 or beyond.

Source: Trading View

However, if sellers push the price below $1.90, the next major support lies at the 100 EMA at $1.46. These levels are crucial for understanding whether XRP’s current momentum can sustain further gains.

Political Drama Sparks XRP Trading in South Korea

The surge in XRP trading comes against a backdrop of heightened political drama in South Korea. On Tuesday, a court issued an arrest warrant for President Yoon Suk Yeol over his controversial decision to impose martial law in December. While unrelated to crypto, such events often spark speculative activity in the financial markets, including digital assets like XRP.

South Korea has become a major hub for cryptocurrency adoption. The number of retail investors reached 15.59 million in November, up 610,000 from the previous month. This figure represents nearly 30% of the country’s population, reflecting the growing appeal of digital assets as an investment class.

Notably, this surge in investors followed a rally in crypto markets after Donald Trump was elected as the next U.S. president. Trump’s pro-crypto stance has generated optimism, further driving interest in digital assets globally.

XRP’s Path to 2025 — 30% Surge

Looking ahead, XRP appears to be setting the stage for a strong 2025. If the token breaks its $2.18 resistance, analysts predict a potential XRP price surge of 40% or more in the coming months. This optimism is supported by its transactional metrics, which indicate increased market participation and sustained interest.

Source: CasiTrades

For now, XRP’s ability to stay above $2 and move toward its next resistance levels will be a key factor for investors. On-chain activity, trading volumes, and strategic price levels will remain focal points for traders seeking to capitalize on XRP’s price potential.

With South Korea leading the charge and a growing global appetite for cryptocurrencies, the XRP price is positioned for a decisive breakout or a challenging test of its resilience. Whether these recent trends mark the start of a long-term rally or a short-lived spike remains to be seen.