- Upbit sees a 39.1% trading volume decline with XRP leading.
- XRP accounted for 14.85% of trade volume.
- Market reactions remain speculative around XRP’s dominance.
On May 17, 2025, South Korean cryptocurrency exchange Upbit reported a 39.1% drop in 24-hour trading volume, totaling $1.824 billion, with XRP/KRW leading trades.
This volume decrease highlights speculative shifts in the Korean market, influenced by local demand for XRP. Other pairs like NXPC, ETH, BTC, and KAITO also ranked high.
Upbit Sees Significant Trading Volume Decline
Upbit, operated by Dunamu, noted a significant reduction in trading activity, down by 39.1% to $1.824 billion in the past 24 hours. XRP/KRW dominated trading volume, capturing 14.85%, suggesting heightened local interest in XRP.
The exchange’s liquidity contraction marks potential positioning ahead of market events or regulatory announcements. Such significant drops often coincide with strategic maneuvers by traders or reactions to market signals. As noted by analysts, “Historically, trading volume contractions signal potential strategic market shifts, with implications for both financial and regulatory landscapes.”
Community discussions remain speculative regarding XRP’s continued dominance. No formal statements were issued by Upbit’s executives or Ripple Labs concerning these volume shifts. This lack of official commentary leaves many market participants pondering potential underlying causes.
XRP Maintains Strong Performance Amid Market Shifts
Did you know? XRP has consistently been a strong performer on Upbit, frequently leading trading volumes. Historical data show it surpassing BTC and ETH at various times, reflecting local speculative trends and regulatory impacts.
According to CoinMarketCap, XRP is priced at $2.36 with a $138.29 billion market cap, maintaining a 4.21% market dominance. Its trading volume over the past 24 hours decreased by 36.09%, aligning with an overall 39.1% drop in Upbit’s trading activity. Price movements saw a 2.29% drop in 24 hours but a 14.12% increase over 30 days.
The Coincu research team contemplates potential outcomes, noting historical regulatory and speculative influences as significant factors.
Source: https://coincu.com/338036-upbit-volume-drop-xrp-leads/