- XRP leads trading volumes on major South Korean exchanges, outpacing Bitcoin and Dogecoin.
- The token experiences a 24% surge in price, bouncing back from a recent correction.
- Analysts set ambitious price targets, with projections reaching as high as $8 by year-end.
Excitement around XRP keeps building with the digital asset now dominating trading volumes on South Korean exchanges; a precedent for a price rebound, and so is earning a lot of attention.
Key figures, like WallStreetBets founder Jaime Rogozinski, have highlighted XRP’s strength in the region. It’s surpassing even Bitcoin and Dogecoin.
XRP Outperforms Bitcoin and Dogecoin in Trading Volume
On January 2, Rogozinski took to social media X to highlight the surge in XRP’s trading volumes across South Korea’s major cryptocurrency exchanges. The data confirms XRP’s rise, as it consistently leads in volume on platforms like Upbit, Bithumb, Coinone, and Korbit, outperforming Bitcoin and Dogecoin.
In the past day alone, XRP’s trading volume on Upbit was almost three times that of Bitcoin. XRP reached a huge $577 million, while Bitcoin had $220 million. Dogecoin had roughly $195 million in trading volume.
This surge in XRP trading is a significant indicator of the strong and consistent interest in South Korea’s crypto market.
Retail Interest Fuels XRP’s Price Rebound
XRP’s strong performance comes as the token recovers from a recent drop. Over the past week, XRP has been a top performer among the top 10 cryptos. The coin jumped 24%, going from lows under $2 to recent highs near $2.50.
This price action matches a wider trend of more activity from retail investors in South Korea. So, XRP’s dominance on local exchanges could mean the asset may grow further in the coming weeks.
Price Targets for XRP
With XRP’s recent bounce, several analysts are revisiting the asset’s future price trajectory. A popular crypto analyst known as “Dark Defender” has suggested that the correction from XRP’s seven-year high of $2.9 could be over. He believes the asset might be preparing for new price highs.
Dark Defender has set big targets for XRP, predicting it could soon reach $4.11 and $5.85. Meanwhile, Rogozinski has also issued bullish targets for XRP’s long-term prospects. He previously stated that if the overall crypto market hits a $5 trillion market cap, XRP could reach an $8 price point by the end of the year.
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