Xrp Overtakes Bitcoin And Ethereum In South Korea

XRP Leads 24-Hour Volume on Upbit

$XRP has overtaken $BTC and $ETH to become the most traded cryptocurrency on South Korea's major exchanges. On May 13, the XRP/KRW pair topped Upbit's 24-hour volume rankings, with CoinGecko data showing the pair generated roughly $110.9 million in trading activity. That placed XRP ahead of Bitcoin's $88.6 million and Ether's $67 million over the same period.

On Bithumb, XRP/KRW also recorded $41 million in 24-hour volume, ranking above both BTC/KRW and ETH/KRW. Despite the strong trading numbers, XRP's price remained relatively flat, hovering between $1.44 and $1.45.

A Familiar Pattern in the Korean Market

The move is consistent with a longer-running trend. XRP has become a default trading instrument in South Korea, bypassing Bitcoin and Ethereum to dominate the country's high-velocity retail market. While institutional capital worldwide typically gravitates toward Bitcoin as a store of value, South Korean trading patterns tell a different story, with domestic traders consistently prioritizing XRP for its liquidity and speed when the market heats up.

Analysts say Korean retail traders are once again driving speculative interest around XRP, a dynamic the market has seen repeatedly during periods of elevated activity. XRP's deep order books, tight spreads, and low execution friction make it the preferred rotation vehicle on KRW-denominated spot exchanges, which do not offer derivatives trading.

XRP has historically maintained strong popularity within the South Korean market, with many Korean investors following the token closely due to its role in cross-border payment technology and its long-standing presence in the crypto industry.

Sources:
CoinDesk: XRP Tops Bitcoin, Ether Volumes on Major South Korean Exchanges
KuCoin News: XRP Surpasses Bitcoin and Ether in Trading Volume on South Korean Exchanges
CryptoSlate: Why South Koreans Prefer XRP Over Bitcoin and Ethereum