Upbit Sees Surge in KRW Liquidity as XRP Leads 24h Volume Rise to $13.39B
Upbit’s 24‑hour trading volume rose to $13.39 billion (a 28.2% increase from the earlier report), driven mainly by KRW‑denominated pairs, according to Coinotag citing CoinGecko. XRP/KRW was the largest single KRW pair, accounting for about 10.38% of daily turnover. Other high‑volume tokens on Upbit during the period included 0G, BTC, ZKP and CPOOL. Earlier reporting had shown a decline in volume to $11.73 billion with XRP/KRW at a larger 17.61% share, indicating the market moved from a lower‑liquidity phase to a liquidity inflow between the two snapshots. For traders, the development signals concentrated activity in KRW markets and renewed liquidity on Upbit — factors likely to narrow intraday spreads, deepen order books for popular KRW pairs (notably XRP/KRW), and create KRW‑denominated arbitrage opportunities. Monitor order‑book depth and pair‑level volumes closely: rapid shifts in Upbit’s KRW liquidity can produce short‑term volatility and execution slippage for large orders, while sustained inflows could support tighter spreads and improved market resilience.
Bullish
The net effect for XRP is bullish. The latest article reports a significant rebound in Upbit’s 24‑hour volume to $13.39B with XRP/KRW ranking first among KRW pairs, signaling renewed demand and improved liquidity specifically for XRP in the Korean market. Increased trading volume and concentrated KRW activity tend to tighten spreads and deepen order books for the leading pair, which supports price resilience and can attract momentum traders and market‑making activity. The earlier report showing lower volume and a higher XRP share suggests short‑term volatility and shifting liquidity between snapshots, but the progression to higher overall volume is positive for XRP’s price prospects in the short to medium term. Traders should expect potential intraday volatility during liquidity shifts but a generally constructive environment for XRP while KRW inflows persist; long‑term impact depends on whether the inflows are sustained and broaden to other venues.