The price of XRP, one of the most popular cryptocurrencies, has been on a roller coaster ride lately. XRP recently reached its highest price against the South Korean Won (KRW) in months, climbing to 768 KRW on the 29th of March. Since then, however, the value of the asset has dropped 8% and briefly touching 690 KRW. The cryptocurrency's share of trading volume on South Korea's largest exchange, Upbit, has also dramatically decreased, taking a 46.5% fall to $357.4 million. Although XRP's trading activity is lower, it continues to have impressive dominance on smaller trading platforms like Bithumb, Coinone, and Korbit.

Despite suffering from a massive dip in trading activity and value, XRP is still in the top three digital assets on South Korea's major exchanges. At Bithumb, it accounts for 29% of the total trading volume, with the figure hitting 34.7% at Coinone. Meanwhile, on Korbit, the token accounts for 27.1% of all trading volume but is still second to Bitcoin (BTC). In addition to this, trading volumes at Upbit has increased by $426 million in the past few days, showing that there is still a large demand for XRP despite the sudden dip.

Overall, XRP's situation on South Korean exchanges is a turning point, with the price and trading volume shifting upwards, showing an optimistic outlook for the future of the asset in the country. The cryptocurrency continues to hold its dominance on smaller platforms while showing a very strong presence on the larger ones, giving hope that its share of activity will slowly start to climb towards pre-dip levels.



Other News from Today