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XRP clawed back 4% from its August low. South Korean retail traders are doing a lot of the heavy lifting, and the order books on local exchanges make that pretty clear.
On Upbit, XRP ranks third by trading volume across 275 Korean won markets — sitting behind only Tether and Bitcoin. That’s not a small thing. South Korea has long punched above its weight in altcoin trading, and XRP has always had a loyal following there. On both Upbit and Bithumb, buy orders near the current market price are outpacing sell orders by roughly two to one. That kind of imbalance tends to matter, at least in the short run. XRP is also trading at a slight premium on Bybit’s South Korean market, which points to local bullish sentiment — though the premium isn’t big enough to qualify as a full kimchi premium event, so don’t read too much into it.
Daily trading volume still dropped about 2% overall. So it’s not all good news.
RSI Divergence and the Selling Slowdown
The momentum picture is probably the more interesting story here. XRP has been making lower lows since June, but the selling intensity has been fading. A marginally lower price low came alongside a higher low in the Relative Strength Index — the RSI climbed from below 20 up to the low 40s. That kind of divergence, where price keeps sliding but momentum starts lifting, is basically what technical traders watch for when they’re trying to call a bottom. It doesn’t guarantee anything. But it’s a shift worth noting.
Leverage doesn’t seem to be driving the move, which is probably a good sign. The Bybit perpetual funding rate is staying slightly positive, not spiking. When funding rates go wild, that usually means the rally is fragile and built on borrowed conviction. That’s not really what’s happening here, at least not yet.
Big Wallets Accumulate, ETF Inflows Hit Four-Week High
Larger holders are moving. Wallets holding between 100 million and 1 billion XRP saw their share of total supply rise from 10.66% to 11.98% around early August. That’s a meaningful jump in a short window. Whether it’s strategic accumulation or something else, the timing aligns with the broader bounce.
And then there’s the ETF side. XRP spot ETF inflows hit $14.86 million in the final week of July — the strongest weekly number in four weeks. That reversed a stretch of outflows. Institutional money had been walking away, and now it’s coming back, at least tentatively. The combination of large on-chain wallet accumulation and renewed ETF inflows hitting at the same time is the kind of confluence that traders tend to get excited about. Whether the excitement holds is another question.
Unclear if the ETF inflow pace can sustain itself into August.
The broader crypto market has seen institutional interest in altcoin ETF products grow steadily, and XRP has been one of the more watched names given its legal history and the clarity that followed. That backdrop probably helps explain why fund flows are sensitive to any sign of price stabilization.
The Price Levels That Actually Matter
Here’s where it gets specific. XRP needs a daily close above $1.09 to break out of the falling channel it’s been stuck in. Get above that, and the next targets are $1.16, then $1.18, and eventually $1.29. Those aren’t guaranteed stops — they’re just where resistance tends to cluster based on the structure of the chart.
Fail to reclaim $1.08, though, and things get messier fast. The next meaningful support levels sit at $1.03 and then $0.95. A drop toward those numbers would pretty much erase the optimism that’s built up around the South Korean bid activity. And if price breaks down, those Korean buy orders could pull back quickly — retail support has a way of evaporating when key levels give way.
So the setup is genuinely two-sided. The RSI divergence, the wallet accumulation, the ETF inflows, the Korean order book — all of it is constructive. But it’s all conditional on $1.08 holding and $1.09 getting taken out on a closing basis.
XRP spot ETF inflows came in at $14.86 million for the week ending July 31.
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Frequently Asked Questions
Why are South Korean exchanges important for XRP’s price right now?
On Upbit and Bithumb, buy orders near the current price are outpacing sell orders two to one, providing direct price support. XRP also ranks third in volume across 275 Korean won markets on Upbit, behind only Tether and Bitcoin.
What price level does XRP need to close above to confirm a reversal?
XRP needs a daily close above $1.09 to break its falling channel, with upside targets at $1.16, $1.18, and $1.29. Losing $1.08 as support opens the door to $1.03 and $0.95.
