XRP has had an outstanding performance in recent months, which has allowed it to position itself as one of the most preferred assets by traders from different regions of the world.
In this context, a report by News1 reveals that the cryptocurrency issued by Ripple is the second most chosen by traders in South Korea , above ether (ETH), the digital currency of the Ethereum network. The first place, as expected, is occupied by bitcoin (BTC) .
XRP is the favorite altcoin of South Korean traders. Source: News1.
The publication states that the survey was conducted via The Polonia platform, was carried out between December 24 and 26 and included responses from 5,225 investors.
This is an important milestone for XRP as South Korea is the second largest cryptocurrency market in the world.
In this context, Upbit, the largest cryptocurrency exchange in South Korea, stands out in the global trading of XRP. In the last 24 hours, an XRP trading volume of over $412 million was recorded, according to data from CoinMarketCap. It is only surpassed by Binance, Bybit, Coinbase and OKX.
According to the Fiatleak site, which shows the flow of BTC and other cryptocurrencies in real time, the United States and South Korea are the countries that buy the most XRP.
XRP is the second most chosen coin in South Korea. Source: Fiatleaks.
Rising adoption is driving a rally in XRP's price, which started 2025 with a standout performance. The good performance that XRP is having is largely due to the launch of RLUSD , the stablecoin of Ripple Labs. The financial product has a 1:1 parity with the dollar and is backed by deposits in the US currency, short-term US Treasury bonds and other cash-equivalent instruments. RLUSD has been approved by the New York Department of Financial Services (NYDFS) , making it an attractive asset for banks looking to cryptocurrency networks for solutions to the traditional financial system such as high commission costs and transaction delays.
It should also be noted that RLUSD operates on the Ethereum and XRP Ledger (XRPL) networks , whose native currency is XRP.
This could result in increased demand for XRP for fee payments if the financial product increases trading volume on XRPL.
In addition to bringing more liquidity to the Ripple Labs ecosystem, RLUSD transactions will generate upward pressure on the XRP price.
Donald Trump's inauguration
January 20, the date Donald Trump will be sworn in as President of the United States, could be key for the cryptocurrency market, especially for Ripple Labs.
Throughout his campaign, the Republican leader expressed a stance in favor of digital assets and promised to promote clear regulation to encourage the development of the industry in that territory.
In this context, it is a fact that there will be changes in the United States Securities and Exchange Commission (SEC) that could provide more clarity on the classification of assets that are considered unregistered securities (security) and which are not.
Under Gary Gensler, the regulatory body had an attitude that could be considered persecutory against the industry and even promoted lawsuits against exchanges such as Binance, Kraken and Coinbase, for marketing a dozen digital assets that were considered by the SEC to be unregistered securities , which prohibited their sales.
Gensler will leave the SEC on January 20, 2025. Source: Pionline.
Ripple Labs is one of the companies facing a lawsuit with the SEC for trading XRP through exchanges. The US court ruled that the asset can only be considered a security in specific situations, such as institutional sales. The SEC appealed the decision, prolonging the conflict. With Gensler's departure, the legal dispute could end favorably for Ripple Labs.
This would be favorable for the company and would also pave the way for XRP-based exchange-traded funds (ETFs) to be launched in that country. The launch of these financial products — if it happens, of course — will increase the liquidity and accessibility of more traditional investors to XRP , which will generate an upward momentum in its price.
