Bitcoin, the leading cryptocurrency, has created great excitement in the market with its recent rise. During this period, altcoins are also making significant gains and XRP is attracting attention by surpassing Bitcoin.

According to data from South Korean exchanges, the transaction volume of XRP exceeded Bitcoin and exceeded $650 million in the 24-hour period. While XRP has become the most traded cryptocurrency in South Korea, this figure is approximately 2.3 times that of Bitcoin on the country's five leading exchanges. This shows the increasing influence of XRP in the market.

This increase in XRP's transaction volume is due to local trading activities as well as the cryptocurrency's recent price increase. The trading volume of XRP on Upbit, South Korea's largest exchange, reached $526.8 million, surpassing the total trading volume of Bitcoin on all major exchanges in the country, which was approximately $282 million.

Other altcoins are also gaining momentum in South Korea. While Bitcoin ranks second in transaction volume on Upbit; Popular memecoin Shiba Inu (SHIB) is in third place. It can be said that these trading preferences indicate that the dynamics of the altcoin market in South Korea has changed and investors are turning to other potential cryptocurrencies besides Bitcoin.

This latest dominance of XRP in South Korea is reminiscent of its rise to a 1.5-year high of $0.93 following a positive outcome in the SEC case in July last year. This historical context reveals XRP's potential for significant price movements driven by market and regulatory developments.

However, despite its recent gains, XRP is currently trading at $0.57, down 7% in the last 24 hours. Such fluctuations are common in the cryptocurrency market; Therefore, traders and investors should continue to follow market trends and developments carefully to make informed decisions.

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