The post Why XRP Price is Up Today? Korean Traders Drive Price Past $3 appeared first on Coinpedia Fintech News
The crypto market is buzzing again as altcoins spark a strong rebound, lifting sentiment across the board. Bitcoin is holding above key support, Ethereum is regaining strength, and tokens like Solana, Toncoin, and Chainlink are making notable gains.
But it’s XRP that’s stealing the spotlight, surging 6% in the last 24 hours to touch $3.03 before settling slightly lower at $3.00. The jump came with a massive spike in trading activity, with volumes more than tripling the daily average, a clear sign that big investors are getting involved.
Why XRP is Surging
The rally is being fueled by a perfect storm of factors. Strong institutional buying kicked in after XRP broke through resistance levels at $2.87, $2.92, and $2.97. But the biggest push is coming from the South Korean exchange, where XRP is now the number 1 traded cryptocurrency.
On Korea’s largest exchange alone, XRP saw nearly $500 million in 24‑hour trading volume, as Korean traders piled in, helping propel the price higher. This surge in Korean demand is feeding into global momentum, attracting traders from all over the world.
How High Could XRP Go?
On the charts, XRP is holding strong above the $2.73 support level, luring in late buyers. The RSI (Relative Strength Index) is forming higher lows, hinting at building strength, and volume data shows heavy buying interest near $2.97. If bulls manage to push the price above $3.14, XRP could test the $3.48–$3.65 zone, just shy of its all‑time high of $3.66.
Analyst EGRAG Crypto is even more optimistic, projecting that XRP could see a final explosive rally within the next five months. His forecasts range from $4.89 to a jaw‑dropping $48.90, with an average target of $27.
Ripple vs SEC Update
Adding to the bullish backdrop, XRP’s long‑running legal fight with the SEC may soon be over. Ripple has agreed to pay a $125 million fine and dropped its appeal, while the SEC is expected to do the same, likely by August 15. A settlement could remove a major uncertainty and open the doors for more institutional adoption.
On‑chain analyst Ali Martinez warns that the MVRV ratio has formed a death cross, signaling the possibility of a short‑term dip. Still, with Korean trading frenzy, strong technical support, rising institutional flows, and legal clarity on the horizon, XRP’s bullish outlook remains intact.