In the world of cryptocurrencies, few tokens can boast the longevity and resilience of XRP. The token has held its position as one of the most traded cryptocurrencies on Upbit, South Korea’s largest exchange, for quite some time now. In late March, XRP’s trading volume reached an impressive $600 million on Upbit alone. And as of the latest data from CoinMarketCap, XRP still commands 8.57% of Upbit’s $1.7 billion in trading volume, making it the third-largest cryptocurrency on the exchange.
The only two cryptocurrencies that have a larger share of the trading volume on Upbit are Bitcoin (BTC) and Arbitrum (ARB), with figures of $276.5 million and $201 million, respectively. This is a testament to XRP’s popularity and staying power in the volatile world of cryptocurrency.
XRP’s strength on Korean exchanges doesn’t stop at Upbit. On Bithumb, another significant Korean platform, XRP trade accounts for 18.9% of the total volume, equivalent to $55.4 million. Only Bitcoin has a larger share on Bithumb, with a commanding 28%. XRP’s popularity on these exchanges is a testament to the token’s durability and the trust placed in it by traders.
The ongoing legal battle between Ripple and the SEC has been a significant factor in XRP’s market performance. Many market participants are eagerly awaiting a resolution to the case, which is expected to be reached no later than the first half of 2023. The verdict will undoubtedly have a significant impact on XRP’s future trajectory and the entire cryptocurrency market.
Despite the ongoing legal drama, XRP has remained a force to be reckoned with, holding its own against other major cryptocurrencies like Bitcoin and Arbitrum. The token’s longevity and resilience on Korean exchanges is a testament to its staying power in the ever-changing world of cryptocurrency. As XRP continues to hold strong, investors and traders alike will be keeping a close eye on its performance in the months to come.