XRP Surges to $327M in 24 Hours on Upbit Amid Rising Binance Leverage

The cryptocurrency market is seeing increased activity in South Korea, particularly for XRP. Trading volume on Upbit, one of Asia's most active crypto exchanges, has surged to $327.2 million in 24 hours, accounting for a significant share of the exchange's total daily volume.

This uptrend is also reflected in Binance's XRP leverage ratio, which has reached its highest level in over seven months, according to CryptoQuant data. Rising leverage combined with higher prices and increasing open interest can signal stronger trader confidence and the creation of new positions.

Xaif Crypto, a market analyst, highlights the increase in XRP spot demand alongside increasingly aggressive derivatives positioning. This combination suggests that buying pressure remains strong as prices rise, indicating broader market support rather than being driven primarily by leveraged traders.