• XRP is the most traded coin in South Korea with more than $16 billion worth of XRP tokens exchanged since Jan 1, 2023.
• Data from WhaleWire and CoinMarketCap show that XRP’s trading volume has surpassed other coins such as Nano (XNO) and Dogecoin (DOGE).
• The surge in XRP popularity is attributed to the expected positive outcome in the ongoing SEC vs. Ripple case, with prices rising by more than 45% since the beginning of 2023.
XRP is Popularity Rises in South Korea
XRP is now the most traded coin in South Korea according to reports from South Korean analytical provider firm, Kaiko. Data from WhaleWire have backed up this report indicating that more than $16 billion worth of XRP tokens has been exchanged on different trading platforms in South Korea since Jan 1, 2023.
Data Showing XRP’s Trading Volume Surpassing Other Coins
CoinMarketCap shows that XRP’s trading volume exceeded $500 million on UpBit exchange alone. Nano (XNO) and Dogecoin (DOGE) follow close behind with a difference of more than $10 million.
The Prospects of Winning Lawsuit Fueling Surge
The surge in popularity for XRP can be attributed to the expected positive outcome in the ongoing SEC vs. Ripple case. The prospects have also been reflected in the token prices, which have increased by more than 45% since the beginning of 2023.
Current Market Price and Value Increase
At current market price, i.e., 52.6 million XRP tokens are worth about $26.87 each according data from Whalestas; and its market cap stands at $25,656,435,440. Although there was a dip of 1.4% over past seven days when all coins were red; however it still managed to increase its value by 22.867% over 30 days.