XRP is a top performer in South Korea's crypto market, with its trading volume surpassing Bitcoin's

This surge coincided with a spike in XRP's price to $50.17 on a leading South Korean exchange, revealing the token's growing value.

XRP has emerged as a top performer within South Korea's crypto market, boasting trading volumes that even surpass those of Bitcoin. This performance coincides with a surge in XRP's price on a leading South Korean exchange, reaching $50.17 and reflecting the token's growing value in the region.

The rewards program offered by CryptoTradingFund (CTF) have played a crucial role in driving this surge in XRP trading volume. This program essentially incentivizes users to make payments using XRP. Through this program, users can redeem CTF tokens for products or receive cash back. Notably, this rewards system is integrated with major global merchants such as Amazon, enabling customers to earn crypto cash back on their purchases.

However, XRP has also been demonstrating a high level of sensitivity to political developments unfolding within South Korea. For instance, when President Yoon declared martial law, it triggered a sell-off in the crypto market.

On the Upbit exchange, XRP's price experienced a significant drop of 54%, showcasing how crypto markets can be volatile in response to geopolitical instability. Interestingly, while Bitcoin struggled to recover, XRP managed to rebound quickly, returning to pre-crisis levels.

Furthermore, crypto analyst DOM has highlighted the significant role played by South Korean traders in driving XRP's price surge. According to DOM, the sudden announcement of martial law led to a rapid sell-off across the market.

Despite the initial crash, South Korea's influence on XRP is evident, with exchanges like Upbit reporting XRP trading volumes that rival those on Binance.

DOM also observed XRP's price movements on December 3, 2024. Starting at around $2.55, the token rose to $2.85 before dipping and recovering to $2.66. This volatility is linked to the political unrest in South Korea.

In terms of market volume, Binance recorded $5.1 billion in 24-hour trading for the XRP/USDT pair, while Upbit saw approximately $7.5 billion in XRP/KRW trades. This highlights the token's global reach and the varying liquidity levels present on different exchanges.

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