- XRP led South Korean crypto trading with $1.20 billion in 24-hour volume across Upbit and Bithumb.
- Price surged above $1.6 before dropping to around $1.47, with market cap briefly crossing $89 billion.
- Binance reserves fell by 192.37 million XRP, signaling accumulation after the Feb. 6 crash.
XRP saw heavy trading activity across South Korean exchanges, pushing the token above $1.6 on Feb. 15 before a sharp pullback to around $1.47 by early Feb. 16. At the peak, XRP’s market capitalization crossed $89 billion as demand surged, led mainly by retail and speculative flows from South Korea.
Combined data from Upbit and Bithumb showed XRP recording the highest trading volume by a wide margin. Total XRP trading volume reached $1.20 billion over 24 hours, far ahead of other major cryptocurrencies.
XRP Dominates Trading Volumes
Ethereum recorded $304.41 million in trading volume, Bitcoin $284.97 million, and Tether $254.35 million. Dogecoin followed with $122.38 million and Solana with $106.11 million, while speculative tokens such as PEPE saw $50.86 million.
On Upbit alone, XRP made up about 33% of total exchange volume with $741.6 million. Ethereum recorded $179.7 million and Bitcoin $152.5 million. Dogecoin generated $89.8 million while Solana reached $64.2 million. Smaller projects such as Kite, Story, QuarkChain, and zkPass also posted strong activity.
Bithumb data showed a similar trend. XRP led with $461.2 million in volume, followed by USDT at $209.9 million, Bitcoin at $132.4 million, and Ethereum at $124.6 million. Altcoins such as Humanity, Bitlayer, and Worldcoin also saw increased trading.
Accumulation supports
XRP has risen 38% since the market crash on Feb. 6, outperforming Bitcoin and Ethereum, which gained roughly 15% in the same period. At press time, BTC trades at $68K and ETH is at $1,900.
On-chain data showed signs of accumulation after the crash. Binance’s XRP reserves dropped by 192.37 million tokens to 2.553 billion between Feb. 7 and Feb. 9, a 7% decline and the lowest level since January 2024. Exchange balances have remained stable since then.
Falling exchange reserves often indicate investors are moving tokens into private custody for long-term holding. Reduced supply on exchanges can limit selling pressure and support price rebounds.
A similar pattern appeared in late 2024, when XRP rallied from $0.60 to above $2.40 as exchange balances declined rapidly.
Related: XRP Price Prediction: Garlinghouse Joins CFTC Panel As XRP Tests $1.40 Support
XRP Price Analysis: What’s Next for Prices?
The 4-hour chart shows XRP trading below a descending trendline that has capped price action since early January. The trendline currently sits near the $1.55 to $1.60 zone and acts as immediate resistance.
A green demand zone between roughly $1.30 and $1.35 has provided repeated support during recent declines. Price bounced from this level after a sharp drop toward $1.10 earlier in February, confirming strong buyer interest in that range.
Source: TradingView
A break above the descending trendline could open a move toward $1.70 and $1.90, where previous selling pressure emerged. Failure to hold the $1.30 support zone may expose XRP to another decline toward $1.10.
Meanwhile, the relative strength index (RSI) moved higher toward the mid-range, showing recovery in buying pressure but not strong bullish control.
Related: XRP Price Slips as On-Chain Stress Builds, but ETF Demand Holds Steady
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Source: https://coinedition.com/xrp-trading-volume-spikes-to-1-20b-amid-recovery-hopes/
