XRP, the third-largest cryptocurrency by market capitalization, is continuing to hold its place firmly as one of the most popular cryptocurrencies among traders on South Korea's top exchanges. As reported by U.Today, its trading volume on Upbit, South Korea's largest exchange, reached $600 million at the end of March 2021. According to CoinMarketCap, XRP currently holds 8.57% of Upbit's $1.7 billion trading volume, closely following Bitcoin (BTC) and Arbitrum (ARB) in the rankings. Additionally, on Bithumb, the second largest platform in South Korea, XRP trade accounts for 18.9% of the total volume, equivalent to $55.4 million.

The increasing demand for XRP in the South Korean market has been attributed to its adoption by several prominent financial institutions in the country. Ripple, a company that utilizes XRP in its products and services, has actively promoted the use of XRP in cross-border payments across Asia, leading to its growing popularity in Korea in particular. Moreover, the Bank of Korea announced a pilot program in November 2020 to test a Central Bank Digital Currency (CBDC) using Ripple's blockchain technology.

XRP's upcoming legal trial with the Securities and Exchange Commission (SEC) is also expected to have a significant impact on its market performance. The deadline for a verdict has yet to be finalized, although it is anticipated to occur by the first half of 2023. Thus, as these developments will be closely monitored by investors, XRP's price has the potential to increase should the resolution prove to be favorable.



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