ChainCatcher Message, Scopescan stated in a post 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 USD, which is 11 times its BTC trading volume, exceeding Binance's XRP spot trading volume; the 24-hour spot trading volume of XRP/KRW on Bithumb reached 1.2 billion USD, accounting for 32% of its total trading volume.