Altcoins News
By James Thorp
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Unusual XRP Activity on Upbit. According to Coinglass data, the XRP trading volume on Upbit hit $1.
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Korea’s Strong Connection to XRP. XForceGlobal confirmed that XRP has been a dominant cryptocurrency in Korea for a long time.
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What This Could Mean for XRP’s Price. Naturally, people began asking if this massive trading activity could affect the price of XRP.
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Current Price and Market Outlook. After touching $2.35, XRP has since cooled off slightly and is now trading at $2.26, up about 0.
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South Korean traders recently urge major interest in the XRP market after a surprising $1.94 billion worth of XRP was traded on local exchange Upbit — and it all happened in just…
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According to Coinglass data, the XRP trading volume on Upbit hit $1.94 billion at 2:51 PM UTC on July 8.
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Popular XRP community member and game designer Chad Steingraber was one of the first to share this data online.
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Rector noted that Upbit also saw a net inflow of $720 million in XRP within just one hour — meaning more XRP was being deposited or traded on the exchange than withdrawn.
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Steingraber also shared additional volume spikes later that day. By 3:29 PM UTC, the net inflow had jumped to $1.
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Interestingly, other major exchanges like Binance were seeing outflows during this time, meaning more people were pulling XRP out than putting it in.
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That means for every $1 flowing into XRP, its market cap could potentially increase by $235. At one point, an $18 million inflow was linked to a $4.
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However, it’s important to understand that net inflows to exchanges don’t always mean more investment in the token.
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For example, using a smaller 25x multiplier, the $1.58 billion inflow could have theoretically boosted XRP’s market cap by $39.5 billion — potentially pushing its price to $2.80.
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So, while the explosive trading volume hasn’t directly translated into a dramatic price rally yet, XRP appears to be holding strong.
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