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XRP Continues Rally Taking Over 28% Of Total Volume On Major Korean Crypto Exchange
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP Continues Rally Taking Over 28% Of Total Volume On Major Korean Crypto Exchange

Samuel Edyme
Samuel Edyme
2 years ago
3 mins read
Ripple - XRP

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While the rest of the crypto market has seen sharp declines over the past week, XRP has only continued to boast bullish moves. Over the past seven days, the asset has surged by more than 20%, emerging as the top gainer among large crypto by market cap.

According to data from Coinmarketcap, XRP has the largest trading volume on Upbit, South Korea’s largest cryptocurrency exchange. The token’s trading volume has surpassed even large crypto by market capitalization, such as Bitcoin (BTC) and Ethereum (ETH). 

Related Reading

Ripple XRP

XRP Is A Buy At Current Prices, Says John E. Deaton

2 years ago

XRP Gains Higher Volume On Upbit

Alongside its continuous rally, XRP has taken over Upbit regarding trading volume. At the time of writing, the asset currently accounts for 28.71% of Upbit’s trading volume. This is significantly higher than the trading volume of other large assets listed on the exchange. 

With Upbit’s total trading volume currently at $1.5 billion, XRP accounts for a large sum of $446 million, ranking first in the exchange’s list of listed cryptocurrencies. Coming second on the list is Bitcoin (BTC) which accounts for just $169 million. 

Ethereum (ETH), the second largest crypto by market cap, is ranked 9th on Upbit’s listed crypto trading volume. ETH accounts for just $33 million, even lower than Dogecoin’s (DOGE) trading volume on the exchange, which sits at $57.5 million, ranking 4th.

Notably, the increase in XRP’s trading volume in South Korea has been noticed since last week, a few days after the token rallied by up to 25% on March 21. Interestingly, trades on Upbit are being made in exchange against the South Korean won (KRW).

A rise in XRP trading volume on the exchange could mean South Koreans may sell their KRW in exchange for XRP. This happens regardless of Ripple’s ongoing case with the U.S. Securities and Exchange Commission (SEC). Meanwhile, attorney John E. Deaton tweeted that XRP’s risk-to-reward is attractive, adding that the asset is a buy at current market prices. 

Related Reading

XRP

XRP Might Target $0.50 If It Continues To Trade Above This Level

2 years ago

XRP To Continue Rally?

Over the past seven days, XRP has seen a significant surge in value, moving from a low of $0.37 seen as of March 20 to trading as high as $0.49 the next day. So far, XRP has been doing well from a technical perspective, and according to the asset price chart, XRP could continue to rally, given it still has liquidity to the upside.

Ripple (XRP) price chart on TradingView
XRP price is moving sideways to tap into the market liquidity on the 1-day chart. Source: XRP/USDT on TradingView.com

Looking at the XRP price chart on the 1-day time frame, XRP has just tapped into a major zone of $0.49. A break of structure above that zone could mean the asset would surge and tap into other major highs at $0.5 and $0.54.

Meanwhile, XRP’s overall daily trading volume is starting to decrease, indicating a slowdown in buying pressure. The asset currently has a 24-hour trading volume of $2.7 billion compared to nearly $4 billion seen last week.

Featured image from Shutterstock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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