XRP dominated spot volume on Upbit, South Korea’s largest crypto exchange, for two consecutive days. On October 15, 2026, XRP/KRW spot volume reached approximately $145.57 million, surpassing Bitcoin at $126.50 million and Ethereum at $92.09 million. This concentration represented 11.74% of the exchange’s total trading volume. The main driver was South Korea’s Financial Intelligence Unit blocking access to 27 offshore exchanges, pushing trading toward domestic venues. The absence of a notable Kimchi premium indicates Korean traders were not chasing XRP into a local bubble, but exchanging it at prices aligned with Binance.
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