Upbit, the largest digital asset exchange in South Korea, just announced its triple spot listing of Ripple’s RLUSD stablecoin. That could massively increase XRP’s exposure to the South Korean market, which is majorly served by Upbit. The exchange’s trading volumes take up roughly 70% of all South Korean crypto trades.
How XRP Secured Korea’s Deepest Liquidity Pocket
For starts, the XRP gained traction on South Korean markets during the 2018 bull run, but the bigger breakthrough came just a few years ago, when Ripple cleared their case with the United States Securities and Exchange Commission (SEC), which originally accused the San Francisco based tech giant of selling ‘unregistered securities in XRP’.
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Now, the Korean won-based XRP/KRW trading pair has one of the deepest liquidity pockets in the Asian financial market, thanks to locals trading directly against the local currency rather than another stablecoin. In Upbit’s case, all bases are covered: traders can engage in Spot market action via RLUSD/KRW, RLUSD/BTC, and RLUSD/USDT.
Presently, the real-time stats suggest that most of Ripple’s native stablecoin trading is going on Bullish, an institutional exchange tacking up the lion’s share – 52% of Ripple stablecoin trades. Binance emerges as another key player in the stablecoin trading with roughly 16% of all volume – mostly on their USDT pair.
Discrepancy Between XRP’s Price Grows More Vivid
As for XRP, the ride has been rough on Tuesday with a nearly 5% drop to $1.055, a crucial support level that could take the OG altcoin below $1 if not sustained. Geopolitical tensions contributed a lot to the multi-billion dollar wipe-out, sending Bitcoin back below $64K, while Ethereum’s (ETH) faced a 4% correction to $1,884.
During the Asian trading hours, crypto bulls took a massive beating: $352 million in leveraged upward crypto positions were abolished, while short-sellers took in a relatively small deficit of $27 million, says CoinGlass data. That ultimately means the downward BTC, ETH & XRP price action on Tuesday took some investors by surprise.
XRP’s Floor Test Comes Along With Market Turbulence
XRP’s stance on technical parameters on smaller time-frames isn’t bullish either. At the $1.05 support floor, the altcoin’s exposed to an ultra-negative True Strength Index (TSI), something crypto charters haven’t seen since March 26, 2026.
Crypto whales, otherwise known as big-time investors, have indulged themselves in selling XRP on Tuesday, pushing the Chaikin Money Flow (CMF) to -0.24, according to the 4-hour trading charts on the XRP/USDT pair on Binance.
The downward trend across major-caps is heavily boosted by the expected Fed rate hike on Wednesday, Citadel Securities citing a quarter point hike as the most likely outcome. The chances of crypto’s landmark CLARITY Act passage also slid by 1%, adding an extra layer of confusion for crypto & stock market participants.
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