XRP Price Jumps as Korea Volume Overtakes Bitcoin – Is $2 Next?

XRP price has jumped over 1.5% to near $1.51 in the past 24 hours as trading activity surges in South Korea. Its XRP/KRW pair on Upbit recorded $72.3 million in 24-hour volume, beating Bitcoin’s BTC/KRW pair. 

Meanwhile, veteran trader Peter Brandt sees a possible cup pattern forming on XRP, pointing to a potential breakout.

XRP/KRW Volume Surges Above Bitcoin in Korea

The sharp rise in Korean trading activity has boosted XRP price up today. On October 5, XRP/KRW recorded $72.3 million in 24-hour volume on Upbit, a South Korean crypto exchange. This was higher than Bitcoin’s $66.4 million, showing strong demand for XRP among Korean traders.

The surge comes as the XRP Asia organization launched during Korea Blockchain Week at the Grand Hyatt. The event may have added to local interest and helped drive trading activity.

XRP ETF Inflows Add More Buying Pressure

The stronger spot activity is also being supported by continued institutional demand through U.S. spot XRP ETFs.

The funds recorded another $4.74 million in weekly net inflows, extending their positive inflow streak to 12 consecutive weeks. Bitwise led the latest inflows with $2.11 million and has now recorded more than $678.4 million in cumulative net inflows.