The altcoin XRP performs exceptionally well in South Korea. According to a report from the social media user WallStreetBets, as he calls himself, the coin is more popular in the Asian country than other cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE). XRP achieves significantly higher trading volumes than many other coins on South Korean exchanges such as Upbit, Bithumb, and Coinone.
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Trading volume dominates
Data from CoinMarketCap shows that the daily trading volume of XRP on Upbit is about $606 million. In comparison, popular coins like BTC and DOGE have daily trading volumes of $246 million and $210 million, respectively.
Thus, XRP surpasses the combined volume of BTC and DOGE on the Upbit exchange. These numbers suggest that South Korean investors have a strong preference for XRP, which may play a significant role in the recent price increase of the altcoin.
XRP price increases by 25%
The price of XRP has risen from $2.00 to a high of $2.49 in recent days, an increase of almost 25%. This brings the altcoin closer to its local high of 2024 of about $2.82. To reach this important threshold, a further increase of 13.25% is required.
Analyst predicts an XRP price of $8
According to analysts, the XRP price could rise significantly further throughout 2025. An important milestone remains the all-time high of $3.40, which has been untouched since 2018. WallStreetBets sees the current rally as a strong signal that XRP could rise to a level of $5.85 in the coming months. This would represent an increase of 135% compared to the current price. The analyst also forecasts a final price target of $8 for this year, which corresponds to an impressive increase of 220%.