Is Korea Propping Up The XRP Price? Pundit Explains What’s Happening
Summary
XRP's recent price strength is attributed to high trading volume and demand from South Korea. The country is a major driver of XRP's performance, with significant engagement from local crypto users. South Korea leads in global trading volume, and XRP frequently outperforms Bitcoin even on low trading days. Approximately 20% of XRP's market cap is held by South Korean citizens, driven by regulatory isolation and a lack of large-scale payment solutions, leading to increased cryptocurrency adoption. Upbit, South Korea's largest exchange, holds about 6 billion XRP, influencing future price action. The analyst suggests XRP may be forming a potential bottom on the Korean won chart, indicating possible bullish movement ahead.
