Scopescan stated on X that South Korean investors may be the main driving force behind the rise in XRP prices.

Data shows that the 24-hour spot trading volume of XRP/KRW on Upbit reached $3.8 billion, which is 11 times its BTC trading volume, surpassing Binance's XRP spot trading volume;

The 24-hour spot trading volume of XRP/KRW on Bithumb reached $1.2 billion, accounting for 32% of its total trading volume.