XRP now leads the South Korean market over other crypto, outshining Bitcoin and Dogecoin in that demographic.
The last few months have been thrilling for XRP investors, and the excitement shows no signs of waning.
Particularly in South Korea, where XRP is making headlines for its impressive market performance.
Recently, Jaime Rogozinski, the founder of WallStreetBets, noted this trend, emphasizing XRP’s growing influence in the region.
XRP Takes Center Stage
In a post on X (formerly Twitter) on January 2, Rogozinski underscored XRP’s dominance over other cryptocurrencies, particularly Bitcoin and Dogecoin, in South Korea.
He highlighted that the asset linked to Ripple Labs is capturing significant market attention, further solidifying its position in the East Asian market.
Trading Volumes Soar
According to data from CoinMarketCap, XRP has outpaced Bitcoin in trading volumes on South Korea’s leading exchange, Upbit.
In the last 24 hours alone, XRP recorded over $606 million in volume, nearly three times that of Bitcoin’s $246 million.
Dogecoin followed with approximately $210 million in trading volume.
This trend is not isolated; other prominent exchanges like Bithumb, Coinone, and Korbit are seeing similar patterns, reflecting a robust interest in XRP among South Korean retail investors—a demographic known for driving major crypto rallies.
Signs of Recovery
This surge in trading activity aligns with XRP’s recent price rebound.
Over the past week, XRP has emerged as a leader among the top ten cryptocurrencies by market capitalization, gaining 24% from recent lows just under $2 to highs nearing $2.5.
This upward trajectory has sparked discussions about the potential end of a prolonged correction.
Analysts Weigh In
Some analysts, including the well-known commentator “Dark Defender,” suggest that XRP’s nearly month-long correction from its seven-year peak of $2.9 may have concluded.
Dark Defender has set ambitious targets for XRP, forecasting potential rises to $4.11 and $5.85.
Rogozinski has also expressed optimism, eyeing an $8 price target for the year-end, contingent upon the broader crypto market reaching a $5 trillion market cap.
As XRP continues to capture attention in South Korea, its recent price movements and impressive trading volumes indicate a potential resurgence.
With influential voices like Jaime Rogozinski backing the asset, many investors are keenly watching to see how the market unfolds in the coming months.
The combination of bullish sentiment and strong retail interest could pave the way for further gains in the XRP ecosystem.
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Also Read: XRP’S Drop Now Sparks Optimism
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