Upbit Overtakes Coinbase in XRP Trading as Korean Turnover Tops $224 Million

In Brief:

• Upbit surpassed Coinbase in daily XRP trading, recording $224.22 million, while Binance led the highlighted exchanges with $306.13 million turnover.
• XRP accounted for 15.57% of Upbit’s activity, while weekly turnover approached $1.71 billion, highlighting substantial participation on the Korean exchange.
• XRP traded between $1.44 and $1.50 following weekly gains of 14% to 15%, while daily trading volume declined across exchanges.

 

South Korea’s Upbit surpassed Coinbase in daily XRP trading volume, recording $224.22 million against the U.S. exchange’s $173.38 million. According to CoinGlass’s market heatmap, Binance led the highlighted exchanges with $306.13 million in XRP spot trading during the comparison.

Meanwhile, Upbit’s advantage over Coinbase reached $50.84 million, placing its reported turnover approximately 29% above the U.S. platform’s figure. These figures highlight substantial XRP activity on Upbit, although they compare individual exchanges rather than total trading across both countries.

Moreover, Binance’s larger turnover shows that XRP trading remained active across several venues, despite the strong showing from South Korea. Upbit recorded approximately 73% of Binance’s reported XRP volume, illustrating the Korean platform’s scale within the three exchanges highlighted.

However, each figure measures completed trades, so the comparison does not establish which exchange attracted the largest net capital inflows. Repeated buying and selling can generate substantial turnover, meaning trading volume does not directly measure new investment entering an asset.

Nevertheless, the gap between Upbit and Coinbase gives a clear indication of XRP’s popularity within the Korean exchange’s trading market. Additionally, weekly XRP turnover on Upbit approached $1.71 billion, showing substantial activity across a longer period than the daily comparison. That weekly figure adds context to Upbit’s daily lead, although the figures alone cannot establish whether individual traders increased their holdings.

Also Read: Solana ETFs Overtake XRP in Assets as Monthly Inflows More Than Double

XRP Claims 15.57% of Upbit Activity as Weekly Rally Gives Way to Range Trading

Within Upbit, the XRP/KRW pair represented 15.57% of total platform activity, placing the token among the exchange’s most heavily traded assets. Consequently, XRP accounted for roughly one dollar in every six dollars of reported turnover across the platform during that period.

Meanwhile, XRP traded between $1.44 and $1.50, following a weekly advance of approximately 14% to 15%. Daily volume declined alongside that narrower trading range, indicating that trading activity had eased despite the token’s substantial weekly gain.

However, the price range does not establish a breakout direction, and higher exchange turnover alone cannot confirm sustained buying pressure. Similarly, the data does not identify traders’ motivations or demonstrate that Korean investors moved money from stocks into XRP.

Claims that Seoul determines XRP’s global price would require broader evidence, including trading across additional exchanges and comparisons of price movements. Furthermore, turnover differs from order book depth, which measures available buy and sell orders rather than trades already completed.

Upbit’s reported figures establish a sizeable XRP volume lead over Coinbase, while Binance retained the largest total among the highlighted exchanges. Together, the daily and weekly totals underline strong Korean participation, with XRP holding a substantial share of Upbit’s overall trading activity.

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