XRP Surges as Korean Trading Volume Tops Bitcoin
XRP's price climbed over 1.5% in the past 24 hours, reaching close to $1.51, as trading activity spiked in South Korea. The XRP/KRW pair on Upbit recorded a 24-hour volume of $72.3 million, surpassing Bitcoin's $66.4 million on the same exchange. The surge in trading volume follows the launch of the XRP Asia organization during Korea Blockchain Week, which may have fueled local interest and trading activity.
The price rise is also supported by continued institutional demand through U.S. spot XRP ETFs. These funds saw another $4.74 million in weekly net inflows, marking 12 consecutive weeks of positive inflows. Bitwise led the latest inflows with $2.11 million, accumulating over $678.4 million in cumulative net inflows.
Veteran trader Peter Brandt has noted a potential bullish reversal for XRP, with the cryptocurrency forming an inverse head-and-shoulders pattern around the $1.55 area. Brandt highlighted the importance of this pattern, as a confirmed breakout above the neckline could signal stronger buying pressure. The next major resistance level is near $1.6572, with potential targets at $1.70 and $2.00 if XRP breaks above this level.
A key event for XRP in the coming days is the expected launch of two XRP Ledger updates, Batch (V1.1) and Permission Delegation changes, scheduled for around October 8-9, 2026. These updates aim to make the network faster and more user-friendly, particularly for large transactions, and could enhance its appeal to banks and other large companies.