XRP rally toward $3 driven by South Korean trading surge

XRP’s recent climb toward the $3 mark was largely fueled by heightened trading activity in South Korea, according to BeInCrypto, citing analysis by crypto analyst Dom. Upbit, the country’s top exchange, played a key role, contributing 32 million of the 45 million XRP in net buy pressure that pushed the price from $2.60 to $3.00 on July 12. Upbit accounted for 70% of the volume, while Binance recorded a negative net volume. Speculation over a potential spot XRP ETF and the nearing conclusion of Ripple Labs' legal dispute with the U.S. Securities and Exchange Commission (SEC) are also seen as major price drivers. As of now, XRP is trading at $2.83, up 3.51% over the past 24 hours, according to CoinMarketCap.