XRP Outpaces Bitcoin on Upbit with Record Volume

Upbit, South Korea’s leading crypto exchange, recorded a striking volume advantage for XRP over Bitcoin on September 21. The XRP‑KRW pair moved $350 million (≈₩481 billion), while Bitcoin‑KRW logged $225.8 million (≈₩308 billion).

Daily Volume Dominance

On‑chain data showed XRP’s 24‑hour volume at $203.9 million, compared with $143 million for Bitcoin and $119 million for Ether. Upbit’s candle data confirms that XRP out‑traded Bitcoin in won terms every day from August 23 through September 21, a full 30‑day run, and continued to lead in the early hours of September 22.

Price Movement on Upbit

Between September 15 and September 21, XRP rose about 19 % on the platform, climbing from $1.28 (₩1,749) to $1.52 (₩2,078) at the close, with an intraday high of $1.53 (₩2,084). The global XRP price was $1.52 at the time of writing, up 6 % in the prior 24 hours.

Kimchi Premium Absence

Despite strong Korean demand, XRP’s price on Upbit (≈$1.519, ₩2,080) was slightly below the global price, indicating no kimchi premium. Bitcoin showed a modest discount of roughly 2 % on the same day.

Market Context

The broader market saw a short‑squeeze lift Bitcoin above $87,000 before settling near $85,270, with XRP riding the same upward momentum. Heavy volume without a premium suggests active trading turnover rather than a price‑driven buying spree.

Exchange Significance

Upbit handles about 70 % of South Korea’s crypto trading volume through 2025 and is a major custodian for XRP, appearing 11 times among the top 40 XRP wallets with a combined 6.424 billion XRP in July.