Ripple's XRP It experienced a significant increase over the weekend, crossing the $2 mark for the first time in seven years.
Data from CryptoSlate It shows XRP hitting a high of $2.50, the highest price since January 2018, before consolidating at $2.27 at press time.
Despite this minor pullback, XRP is up 20% on the day, extending its weekly gain to 54%. In the past month, the value of the token has increased by 345%, representing an impressive fourfold increase.
The rally pushed XRP to fourth place among the top cryptocurrencies by market cap, surpassing its market cap Solana. XRP's market cap is now $133.9 billion, while Solana's is at $112 billion.
If it maintains its current momentum, XRP's market cap will surpass Tether's USDT Currently it is 134 billion dollars.
South Korean traders fuel works
A significant part of XRP's recent rise is attributed to it South Korean businessmen.
Blockchain analytics company Scopescan pointed out XRP/KRW trading volume on Upbit, South Korea's largest exchange, reached and exceeded $3.8 billion in the last 24 hours. Bitcoin It trades 11 times.
On Bithumb, another major South Korean platform, XRP transactions reached $1.2 billion, accounting for 32% of the total exchange volume.
Meanwhile, global platforms such as Binance and OKX reported increased XRP activity, but Bitcoin and Ethereum Maintained higher trading volume.
Hashed co-founder Ryan Kim highlighted the loyalty of the South Korean XRP community. He attributes this enthusiasm to early adoption campaigns in the country, showing that long-term investors have seen significant returns.
he expressed:
“Ripple Labs sold XRP to Korean Ajummas in a Ponzi scheme in 2014. He called it “Korea's Ripple Market”. At that time many people invested in XRP. They probably made a lot of money lol There is a real XRP community in Korea and that's why Koreans buy a lot of XRP.
Other catalysts
Meanwhile, XRP's rise coincides with a significant shift in market sentiment, fueled by regulatory optimism and institutional interest.
Market observers noted that the president-elect Donald Trump's Pro-crypto stance and resignation Chairman of the Securities and Exchange Commission (SEC). Gary Gensler They have renewed hope for a favorable outcome in Ripple's legal battles against the financial regulator.
In addition, the potential approval of Spot ETFs focused on XRP It adds to the excitement. Major players such as 21Shares and Bitwise have submitted requests for such products, indicating increased institutional interest. CEO of Ripple Brad Garlinghouse It believes an XRP ETF is only a matter of time, especially after the SEC approved similar funding for Bitcoin and Ethereum.
