South Korea’s largest cryptocurrency exchange, Upbit, recorded roughly 1.15 trillion won ($830 million) in trading volume within a single hour on Saturday as XRP and the TRUMP meme coin dominated activity.
The surge followed an already sharp pickup on August 21, when Upbit’s daily volume jumped 273% to about $1.84 billion, its highest level since mid-March. By Saturday, total 24-hour volume had climbed to approximately $3.81 billion.
The rebound marks a notable return of speculative activity to one of the world’s most active retail crypto markets after several months of weaker trading.
XRP Captures Nearly a Third of Upbit Volume
XRP accounted for 32.20% of Upbit’s 24-hour trading volume, according to Upbit DataLab, putting it comfortably ahead of every other asset on the exchange.
TRUMP ranked second with 10.93%, followed by USDT at 8.39%. Ethereum and Bitcoin contributed 5.44% and 5.40%, respectively.
XRP’s dominance coincided with a powerful broader recovery. The token had already gained about 35% over seven days following Ripple CEO Brad Garlinghouse’s participation in recent White House talks over U.S. crypto legislation. Rising derivatives activity and whale accumulation have also supported the latest XRP rally.
Institutional demand has strengthened as well. Recent data showed XRP posting unusually strong ETF inflows relative to the size of its exchange-traded fund market.
Korean Crypto Traders Return After Quiet First Half
The volume spike follows a subdued first half of 2026, when South Korean investors increasingly shifted toward domestic equities as AI and semiconductor stocks pushed the KOSPI higher. Upbit and rival Bithumb both saw operating revenue fall by nearly 50% during that period.
That trend is now showing signs of reversal. Bithumb’s daily trading volume increased 132.9% on August 21 to roughly $934.9 million, while its latest 24-hour turnover reached about $1.95 billion. Coinone recorded another $172 million.
XRP has historically attracted substantial interest among Korean retail traders, while its fast-settlement design and payment focus remain central to its broader XRP utility.
TRUMP added another speculative element to the surge. The token traded near $2.34 after rising about 26% in 24 hours and more than 66% over the previous week, following an all-time low of $1.37 on August 13.
Whether the jump develops into a sustained return of Korean crypto liquidity remains uncertain. But the scale of the Upbit move shows retail risk appetite has returned quickly, with XRP currently capturing the largest share of that renewed demand.
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