XRP rally fueled by high demand in South Korea — CryptoFrontNews

The sharp rise in XRP earlier this week caught the attention of the global cryptocurrency market. According to data cited by CryptoFrontNews, South Korean traders played a significant role in this price surge. The token saw a net buy pressure totaling 45 million XRP. South Korea's largest cryptocurrency exchange, Upbit, accounted for about 70% of this volume.

Meanwhile, US's Coinbase covered only 11% of trading volume. Binance, the leading global cryptocurrency exchange, showed a negative net volume delta.

CryptoFrontNews reports that young investors in South Korea typically favor altcoins over other crypto assets to achieve higher short-term returns. Alternative coins account for nearly 90% of the trading volume on the country's exchanges. In contrast, traders on US platforms prefer Bitcoin and Ethereum. This dynamic significantly impacts market trends, especially during periods of high volatility.

Some analysts believe that XRP still has growth potential. However, the website reports that trading has now returned to normal.