XRP trading volumes have surged in South Korea, reaching an unprecedented $800 million in the past 24 hours. The country’s largest exchanges, UpBit, Bithumb, and Korbit, have reported significant increases in XRP trading activity.
The rise in on-chain activity suggests a possible price breakout for XRP. With the token currently trading around $2.08, analysts predict a potential surge of 40% or more by 2025 if it breaks its resistance level at $2.18. This optimism is supported by increased market participation and sustained interest.
South Korea’s crypto traders have driven rallies in the past, and their recent interest in XRP is likely influenced by local political developments and global market trends. The country has become a major hub for cryptocurrency adoption, with 15.59 million retail investors participating in November.
A court’s arrest warrant of President Yoon Suk Yeol’s controversial decision to impose martial law may also be contributing to the surge in XRP trading activity. This event often sparks speculative activity in financial markets, including digital assets like XRP.
As XRP looks to 2025, its ability to stay above $2 and move toward its next resistance levels will be crucial for investors. With a growing global appetite for cryptocurrencies, the XRP price is poised for a decisive breakout or test of its resilience.
Source: https://bravenewcoin.com/insights/xrp-trading-frenzy-in-south-korea-hits-800m-is-a-surge-in-sight