The South Korean crypto market is experiencing a massive capital rotation since late last week. On Upbit, the XRP/KRW pair dominates with a daily volume of $319 million, accounting for 21.86% of the exchange’s total activity. Upbit’s daily turnover surged 250% to $1.8 billion on Friday, while Bithumb’s jumped 132%. XRP attracted over $418 million in retail inflows at its peak. XRP’s price has risen to $1.51, decisively breaking above the long-term downtrend the asset had been stagnant in since July 2024, with a negative Kimchi premium of around -0.5% indicating that Korean trading volumes are the main global driver pushing XRP higher worldwide.
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