$XRP

XRP plummets due to political instability in South Korea ?$

The price of XRP has increased by more than 400% in the past 30 days, but this rally has paused following the political crisis in South Korea. The price of the token dropped by 8% on December 3 after news of President Yoon declaring martial law.

This news triggered a wave of panic selling among investors widely, with cryptocurrency prices on exchanges in South Korea significantly lower than elsewhere.

For example, the XRP/KRW trading pair experienced one of the sharpest declines due to the large number of XRP holders and cryptocurrency users in this country.

Notably, the price of XRP on Upbit, South Korea's largest cryptocurrency exchange by trading volume, fell more than 50% to 1.30 USD. Upbit holds the largest XRP reserves among centralized exchanges.