Upbit, a leading cryptocurrency exchange in South Korea commanding 70% of the nation's crypto market share, has reported significant user engagement with XRP. The exchange revealed that XRP has amassed 13.26 million users in South Korea, a country with a population of approximately 51 million people, translating to one in four Koreans using XRP. Furthermore, XRP consistently captured between 15% and 22% of daily trading volumes, reaching a notable peak of $1.22 billion in a single day during July 2025.
According to the exchange's analysis, XRP demonstrated superior performance compared to both Bitcoin and Ethereum by consistently securing up to 22% of daily trading volumes. The overall trading volume for XRP on the platform has reached $1 trillion.
Key Trading Trends and User Demographics
Upbit observed a 156% surge in the XRP/KRW trading pair within a single hour. The platform attracted 1.1 million new users throughout the year. The analysis also identified 12:00 a.m. UTC as the most active trading hour on Upbit, which corresponds to 9:00 a.m. Korean Standard Time (KST), coinciding with the opening of the traditional business day in South Korea.
BREAKING 🚨🚨🚨 $XRP dominated Bitcoin in South Korea, and the data is undeniable!
Upbit confirms XRP was the most traded asset of 2025 in the most active retail market on Earth.
Not price talk. Volume, liquidity, usage. XRP/KRW ranked #1 most of the year, Upbit is processing… pic.twitter.com/OGEy2HglT1
— X Finance Bull (@Xfinancebull) January 8, 2026
The report further highlighted that over 52% of XRP users on Upbit are in their 30s and 40s. This demographic distribution differs from some Western markets, which have historically shown a stronger inclination towards younger investors in their 20s.
The XRP/KRW pair was also ranked as the most traded pair of the year on Upbit. The consistent high-volume trading of XRP has ensured deep liquidity for the XRP/KRW trading pair, a trend confirmed by Coinglass data. The XRP/KRW trading pair on Upbit experienced a significant 156% surge in trading volume within an hour on a recent day. In comparison, the XRP/USDT pair on Binance, the world's largest exchange by trade volume, saw a 69% increase during the same period.
Simultaneously, other major exchanges such as Coinbase, Gate, Bybit, Crypto.com, and OKX have reported volume spikes for XRP, with their 1-hour volumes ranging from $1.4 million to $3.12 million. Only Bitstamp witnessed a decrease in XRP trading volume during this period.
Data from other exchanges also indicates sustained interest in XRP. In Australia, XRP recently surpassed Bitcoin as the most traded digital asset on BTC Markets. Despite Bitcoin recording a 70% price increase in 2025 and reaching a new all-time high, Australian traders demonstrated an increasing focus on XRP during the financial year.
The trend in Australia saw average trade sizes rise by 25%, daily trading volumes increase by 17%, and participation expand among older investors, women, and self-managed super funds. XRP itself experienced notable price movements, reaching $3.34 in January 2025 and peaking near $3.66 by July, before experiencing a decline of approximately 50% to around $1.80 by the end of the year.
Institutional Demand and Market Challenges
In addition to trading activity, institutional demand for XRP has been developing through Exchange Traded Funds (ETFs). More than $1.5 billion has been invested into XRP ETFs to date. For instance, despite XRP experiencing an 18.11% decline in the preceding three months, the Bitwise XRP ETF saw an inflow of $4.51 million on a single day in January.
However, despite this strong institutional demand, on-chain data reveals a decline in Decentralized Exchange (DEX) volume and stablecoin adoption on the XRP Ledger (XRPL). This trend has raised concerns among traders that XRP's growing financial appeal may not be matched by its real-world utility.
Analysts suggest that new ETF derivatives and clearer regulatory frameworks in the US and UK are likely to influence the future trajectory of XRP. Nevertheless, price volatility remains a significant concern. XRP has recently fallen below the $2.2 barrier and is currently trading at $2.02, marking a 2% decrease in the last 24 hours.
The broader cryptocurrency market is currently experiencing a downturn, with the overall market value decreasing by 1.09% in the last 24 hours, bringing its total value to $3.23 trillion. Similar downward trends are also being observed in top assets such as Bitcoin, Ethereum, and Solana.