Upbit Now Holds Twice as Much XRP as Binance – Here’s How

South Korea’s largest cryptocurrency exchange, upbit upbit - cs@upbit.com Centralised Exchange has just hit a major milestone – it now holds the most XRP reserves among all tracked exchanges, even surpassing Binance Binance - binance@miceneurol.com Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment This shift comes at a time when XRP is gaining massive traction in South Korea, with trading volumes soaring and interest reaching record highs.

This comes just days after U.S. President Donald Trump Donald Trump   Donald J. Trump is a US-based entrepreneur, Pro-crypto Politician, and the 45th and 47th President of the United States of America. He understands the importance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto leader.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Known For Businessman, Pro-Crypto Politician   Once doubtful about Bitcoindominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his kitty. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Criticized Bitcoin and Libra on X, dubbing them as "not money"   2024 – Campaign signals potential openness to crypto-friendly reforms   2025 –  Elected as the 47th President of the United States from the Republican Party.   A meme coin, $TRUMP, is associated with Donald Trump, which is listed on the Solana blockchain platform. His family also backs World Liberty Financial (WLF), a crypto venture.     President announced plans for a U.S. crypto reserve featuring XRP and other tokens. Upbit now holds twice as much XRP as Binance, the second-largest exchange in terms of XRP reserves – showing the growing interest in XRP trading in South Korea.

Crypto analyst Kate Young Ju highlighted this shift in an X post, drawing attention to Upbit’s increasing dominance in XRP.

Is It Due To Kimchi Premium?

Upbit is not only the largest holder of XRP reserves, but it also leads in XRP trading volume. Data from CoinMarketCap shows that Upbit accounts for 14.37% of the total XRP trading volume, overtaking Binance, which holds 12%.

Some analysts believe this surge is partly due to the Kimchi Premium, a price gap between South Korean and global crypto markets.

The Kimchi Premium happens when crypto prices in South Korea are higher than in other markets. This is caused by capital controls and inefficiencies in the South Korean market, leading to inflated local prices. When these prices are factored into global averages, they can make overall values seem higher than they actually are.

XRP Interest in South Korea Reaches a Five-Year High

Google Trends data supports this growing interest, showing that searches for “XRP” in South Korea have hit their highest level in five years. More people in the country are investing in crypto, with over 30% of the population now holding digital assets. XRP, in particular, has gained strong traction.

XRP in the Crypto Reserve

One reason behind XRP’s recent surge could be Trump’s proposed crypto reserve, which includes XRP alongside major assets like Solana (SOL) and Cardano (ADA). The announcement triggered speculation and a price jump for XRP, attracting investor attention.

However, the price rally didn’t last long. Doubts about Trump’s crypto reserve plans led to a market correction, pulling XRP’s price down. Despite this, analysts believe XRP is still undervalued and has room for growth. 

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Could an XRP ETF Be Next?

Regulatory uncertainty remains a challenge for XRP, but there is growing speculation about a potential XRP ETF. Some believe the SEC might drop its lawsuit against Ripple by April. If that happens, it could be a major win for XRP, paving the way for more adoption and investment.

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Despite market fluctuations, XRP remains a key player in the global crypto conversation. Watch Coinpedia for more.