XRP has experienced remarkable growth in South Korea, with its trading volume leaving both Bitcoin (BTC) and Dogecoin (DOGE) far behind. This XRP success story did not start with the beginning of the new year, but built on the momentum it had already gathered last year, when it became a popular choice among South Korean investors.
According to various reports, XRP’s trading volume in the new year has risen above that of Bitcoin and Ethereum on South Korean exchanges such as Upbit, Bithumb, and Coinone. On Upbit, the largest crypto exchange in South Korea, XRP’s trading volume was estimated at about $591 million, which is significantly higher than that of Dogecoin ($340 million) and Bitcoin ($133 million).
The increase in popularity has led the coin to reach several key price points, giving it a solid position in the top 10 cryptocurrencies based on market capitalization. Although there were occasional corrections, XRP recovered with a rise of 24% to nearly $2.50 after a drop below $2. This rebound followed a month of price decline after a peak of $2.90.
The recent price increase has sparked optimism among analysts, who are now making positive predictions for XRP. Some analysts see XRP heading towards $4.11 and $5.85. The most optimistic predictions even suggest a price target of $8 by the end of the year, depending on the growth of the global crypto market to a valuation of $5 trillion.
These price targets heavily depend on XRP’s ability to maintain its popularity, particularly in the cross-border payments sector. This, in turn, depends on the outcome of the legal battle with the SEC.
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