XRP Surges as South Korean Trading Volume Outpaces Bitcoin
XRP has seen a significant price jump, climbing over 1.5% to near $1.51 in the past 24 hours, fueled by a surge in trading activity originating from South Korea. The XRP/KRW trading pair on the local cryptocurrency exchange Upbit recorded an impressive $72.3 million in 24-hour volume, surpassing that of Bitcoin’s BTC/KRW pair, which stood at $66.4 million.
Institutional Demand Continues to Bolster XRP
This heightened trading activity in South Korea coincides with sustained institutional interest, evidenced by consistent inflows into U.S. spot XRP Exchange Traded Funds (ETFs). These funds have now recorded $4.74 million in weekly net inflows for the twelfth consecutive week. Bitwise, a prominent player in this space, led the latest inflows with $2.11 million, bringing its cumulative net inflows to over $678.4 million.
Veteran Trader Eyes Key Breakout Level for XRP
Veteran trader Peter Brandt has identified a potential bullish reversal pattern forming on XRP’s chart, suggesting an inverse head-and-shoulders formation around the $1.55 mark. This level is considered critical, as XRP is currently testing the pattern’s neckline, which could dictate its next significant price movement.
Brandt’s analysis indicates that a confirmed breakout above the $1.55 area is necessary to validate the pattern and signal increased buying pressure. Should XRP successfully breach this resistance, the next major hurdle is seen near $1.6572. A decisive move above this point could pave the way for price targets of $1.70 and subsequently the $2.00 region. Brandt has also drawn parallels between the current chart setup and historical breakout patterns that preceded XRP’s major rallies in 2017 and late 2024.
The surge in Korean trading interest may have been further amplified by the recent launch of XRP Asia during Korea Blockchain Week at the Grand Hyatt, potentially increasing local engagement with the cryptocurrency.
Upcoming XRP Ledger Updates Poised to Enhance Network Functionality
Looking ahead, two significant updates to the XRP Ledger are anticipated to go live around October 8-9, 2026. The Batch (V1.1) and Permission Delegation updates are designed to enhance network speed and user-friendliness, particularly for large-scale transactions. These improvements are expected to increase the XRP Ledger’s utility for financial institutions and major corporations.
