XRP leads Korea's crypto comeback as Upbit volume jumps 273%

Trading on Upbit, South Korea’s largest crypto exchange, jumped 273% over the past 24 hours to roughly $1.84 billion, representing its busiest day since mid-March.

XRP was reportedly the single most-traded token as a rise in bitcoin’s price pulled Korean money off the sidelines.

Why are so many people trading XRP?

XRP has surpassed bitcoin, USDT, and ether with about $418.9 million recorded on Upbit in the past day. The token is in the lead on Bithumb’s list as well, where its volume climbed by 132.9% to $934.9 million.

XRP also ranked third among the most-viewed cryptocurrencies in South Korea, behind only bitcoin and ether, and its price sat near $1.38 after a 20.1% gain on the day and a 38.1% rise over the week.

The sudden spike in XRP trading is due to Bitcoin’s 8.3% increase in price to around $78,554. Even the wider crypto market benefited from bitcoin’s rise, gaining 7.2%. Cryptopolitan has reported that the Bitcoin rally is because of the U.S. Treasury Department’s expanded debt buyback plan.

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