On October 15, 2026, XRP spot trading volume on Upbit reached $145.57 million, surpassing Bitcoin at $126.50 million and Ethereum at $92.09 million. This accounted for 11.74% of the platform's total activity. The trend continued on October 16, with XRP recording $108.3 million in volume, while Bitcoin and Ethereum saw $95.3 million and $62.7 million respectively.
The surge in volume coincides with South Korea’s Financial Intelligence Unit blocking access to 27 offshore crypto exchanges, driving users toward domestic platforms. Additionally, retail investors have been shifting capital from local stocks into the crypto market due to equity market volatility. Despite the high volume, the price of XRP remained stable at approximately $1.34.
Data indicates no significant Kimchi premium, as XRP prices on Upbit remained consistent with global levels on exchanges like Binance. Historically, Upbit accounts for roughly 15% of global XRP spot volume. In 2025, the token recorded over $1 trillion in cumulative trading volume on the exchange, consistently outpacing Bitcoin throughout that period.
