XRP, SRM, APT, AXS were among the last coins to break a transaction volume record among South Korean exchanges. According to Kaiko’s report, XRP in particular was receiving a lot of attention. Current data shows that South Korean investors are now focusing on a new project.
South Korean investors’ new target after XRP, SRM, APT and AXS
cryptocoin.com As a result, we mentioned that XRP broke a transaction volume record in South Korea’s three largest exchanges by volume, UpBit, Bithumb and Korbit at the end of March. Similar momentum followed with popular coins like SRM, APT, AXS, and ARB.
New analysis shows the power of Civic (CVC), which has 10x its trading volume on Upbit. The CVC price supports the transaction volume, which reached 21 million from 2 million in a short time, with a 6% price increase.
XRP continues to lead
According to analysis shared by WhaleWire, the XRP-KRW pair has by far the largest trading volume on the four major Korean exchanges. Besides XRP, other popular cryptocurrencies are also on the top altcoin list in South Korea. Among them, Nano (XNO) is in the second place according to the shared data, while the meme coin Dogecoin (DOGE) and Ethereum Classic (ETC) are in the top four.
South Korea is home to some of the biggest brands in the world, including but not limited to Samsung and other mega-tech giants. With the advent of the crypto revolution, the regulatory bodies of the South Korean markets began to explore thoughtful innovations that greatly helped these emerging assets flourish in the region.
JUST IN: $XRP is now the #1 most popular altcoin in South Korea, with trading volumes surging well beyond other cryptocurrencies.#XRP #Crypto #Bitcoin #ETH #Doge pic.twitter.com/GfuatoKaxB
— WhaleWire (@WhaleWire) April 18, 2023
New buyers showed their effect on price
As one of the biggest cryptos, XRP may be under the most pressure in the last two years, but it has one of the strongest fundamentals and growth trends in the industry as its utility is well defined. Altcoin offers a payment method that offers a fast and highly efficient transaction, usually in a P2P manner. Ripple, which has hit a big roadblock in the USA through lawsuits, has moved its business overseas, especially with increasing integration in Asia.
The recognition of XRP as a popular altcoin in South Korea is due to the notion that the asset has an increasing number of systems on which it can be deployed, providing all the leverage it seeks to continue its growth.
In terms of price, XRP has reported a 12.3% loss compared to Wednesday’s volatility points. While a bearish breakout has yet to begin, investors should be prepared for such a scenario. The failure of Bitcoin to hold $30,000 highlighted the strength of the sellers. If BTC breaks below $28.6k, the next support levels to watch out for are $26.5k and $25.2k. XRP could also see a downtrend.
