XRP, Ripple Labs’ native token, appears to be leading and outperforming major assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), not only in terms of price rallies but also in trading volume. Recently, Jaime Rogozinski, the founder of WallStreetBets, posted on X (formerly Twitter) that XRP continues to dominate South Korean crypto exchanges compared to other major assets.
However, Rogozinski’s post comes as XRP’s price hints at a potential reversal following a breakout of bullish price action, a prolonged consolidation phase, and a surge in XRP trading volume across exchanges in South Korea over the past 24 hours.
He further added that the rush and interest from traders and investors don’t appear to be slowing down, especially in South Korea, resulting in the altcoin outshining BTC and DOGE in the East Asian country.
Data from CoinMarketCap reveals that XRP’s trading volume on Upbit is three times that of Bitcoin, with over $620 million compared to $276 million over the past 24 hours. Meanwhile, Dogecoin (DOGE) recorded a trading volume of approximately $221 million.
This trend was not limited to Upbit, but similar patterns were observed on other leading exchanges such as Bithumb, Coinone, and Korbit.
Will XRP soar or sink? Read XRP price prediction to stay ahead of the curve!
Analyzing these trends in South Korea, the analyst made a bold prediction that XRP could soon reach $4.11 and $5.85 in the coming days and projected a price of $8 by 2025 if the crypto market reaches a $5 trillion market cap.
At press time, XRP is trading near $2.41, having experienced a price surge of 1.25% in the past 24 hours. However, during the same period, overall trading volume dropped by 43%, indicating lower participation compared to previous days.
A potential reason for this volume drop could be rumors surrounding a health crisis in China
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