XRP Dominates South Korea: 1 in 4 Koreans Trade the Token on Upbit in 2026
- How Popular Is XRP in South Korea?
- Who’s Driving the XRP Craze?
- Global Ripples: Australia Joins the Fray
- Price Rollercoaster: From $3.66 to $1.80
- ETFs vs. Reality: The $1.5 Billion Question
- Market Blues: Crypto Sheds 1.09% Overnight
- FAQs
In a stunning display of market dominance, XRP has taken South Korea by storm, with one in every four Koreans trading the token on Upbit—the country’s largest crypto exchange. With 13.26 million users in a nation of 51 million, XRP now commands 15-22% of daily trading volume, peaking at $1.22 billion in a single day last July. Meanwhile, institutional demand surges via ETFs, but concerns linger over real-world adoption. Here’s the full breakdown.
How Popular Is XRP in South Korea?
Upbit, which controls 70% of South Korea’s crypto market, reports that XRP isn’t just popular—it’s a cultural phenomenon. The token’s daily trading volume consistently outperformed Bitcoin and ethereum in 2025, hitting 22% at its peak. The XRP/KRW pair alone saw a jaw-dropping 156% hourly surge recently, dwarfing Binance’s XRP/USDT (up 69%). Even Coinbase, Gate, and OKX recorded spikes, though Bitstamp bucked the trend with a dip.
Who’s Driving the XRP Craze?
Forget the stereotype of crypto being a young investor’s game—52% of XRP traders in Korea are aged 30-40, a stark contrast to Western markets dominated by 20-somethings. "This isn’t just speculation; it’s mainstream adoption," notes a BTCC analyst. The platform added 1.1 million new users last year, many drawn during traditional market hours, suggesting crossover from stock trading.
Global Ripples: Australia Joins the Fray
South Korea isn’t alone. Down Under, XRP recently dethroned bitcoin as the most-traded asset on BTC Markets. Despite BTC’s 70% price surge in 2025, Aussie investors—including pension funds—piled into XRP, boosting trade sizes by 25% and daily volume by 17%. "It’s the liquidity," shrugs a Sydney-based trader. "You can move millions without slippage."
Price Rollercoaster: From $3.66 to $1.80
XRP’s 2025 was a wild ride: it rocketed to $3.34 in January, nearly hit $3.66 by July, then crashed 50% to ~$1.80 by year-end. Even after an 18% three-month drop, institutional interest held firm—Bitwise’s XRP ETF scooped up $4.51 million in a day this January. But here’s the rub: on-chain data shows declining DEX volume and stagnant XRPL stablecoin use, sparking fears that financial HYPE isn’t translating to utility.
ETFs vs. Reality: The $1.5 Billion Question
Over $1.5 billion has flowed into XRP ETFs globally, yet skeptics ask: where’s the real-world usage? "Institutions love the token, but where are the apps?" quips a Seoul-based developer. Regulatory clarity in the U.S. and U.K. could tip the scales, but for now, XRP trades at $2.02 (down 2% today), struggling to hold $2.20 support.
Market Blues: Crypto Sheds 1.09% Overnight
The broader market isn’t helping—total cap fell to $3.23 trillion amid losses for Bitcoin, Ethereum, and Solana. "It’s a risk-off week," observes a BTCC strategist. Still, with XRP/KRW ranking as 2025’s most-traded pair and retail demand unwavering, the token’s Korean saga is far from over.
FAQs
How much of South Korea’s crypto market does Upbit control?
Upbit dominates 70% of South Korea’s cryptocurrency trading volume.
What percentage of Koreans trade XRP on Upbit?
Approximately 25%—or 1 in 4 Koreans—have traded XRP on the platform.
Why is XRP more popular than Bitcoin in South Korea?
Higher liquidity, local exchange support, and demographic trends (30-40-year-olds driving adoption) give XRP an edge.
