XRP Trading Volume Soars: A Look at the Drivers Behind the Spike

XRP’s trading volume has witnessed a significant surge, particularly in South Korea. This spike is raising eyebrows among market watchers as it diverges from broader cryptocurrency trends. Recent data indicates a notable decrease in XRP’s total trading volume to approximately $5 billion over a 24-hour period. However, this drop appears logical when considering the larger cryptocurrency market context. On the contrary, South Korean exchange Upbit has seen an impressive inflow of around 411 million XRP, highlighting substantial local trading activities. Market observers are predicting that XRP could be poised for future gains, with experts utilizing Elliott Wave analysis to forecast significant price increases in the near term.