XRP emerged as the most actively traded cryptocurrency on Upbit in 2025, overtaking long time market leaders Bitcoin and Ethereum on South Korea’s largest digital asset exchange. Exchange data shows that XRP did not rely on short lived surges in activity. Instead, it sustained steady daily dominance throughout the year, ultimately accounting for about 70 percent of total trading activity on the platform.

According to data released by Dunamu, the operator of Upbit, and highlighted by market tracker XFinanceBull, XRP’s performance reflected persistent retail demand rather than episodic speculation. The token consistently captured a large share of daily trades, supported by deep liquidity in Korean won markets and broad participation from millions of local users.

The development is notable in a market where retail traders play an outsized role and where trading preferences can shift quickly in response to sentiment, regulation, or price volatility.

XRP leads annual trading rankings

Data from Upbit shows that XRP finished 2025 as the most traded cryptocurrency on the exchange by total volume. It ranked ahead of Bitcoin, Ethereum, USDT, and Dogecoin, which traditionally dominate global exchange activity.

Throughout the year, XRP regularly accounted for between 15 percent and 22 percent of Upbit’s daily trading volume. This consistency helped it secure the top position among all trading pairs, with the XRP to Korean won market ranking as the most active on the exchange for most of 2025.

Trading activity reached its peak in July 2025, when XRP recorded about 1.22 billion dollars in volume in a single day on Upbit. Over the full year, the exchange processed more than 1 trillion dollars in total trades, with XRP contributing a substantial portion of that figure.

Market observers say this pattern sets XRP apart from many high volume assets that typically rely on sharp spikes linked to price rallies or breaking news.

Steady daily demand, not speculative bursts

According to the Dunamu data, XRP’s rise to the top was driven by sustained daily trading rather than isolated events. Analysts tracking the Korean market note that this behavior points to habitual trading activity, particularly among retail participants who favor liquid markets with relatively stable execution.

“Consistency is what stands out here,” said a Seoul based digital asset analyst who tracks exchange level flows. “XRP did not dominate for a week or a month. It stayed near the top almost every day, which is harder to achieve in a retail driven market like South Korea.”

This steady flow helped maintain tight bid ask spreads and high order book depth, reinforcing XRP’s attractiveness to active traders who prioritize ease of entry and exit.

Deep liquidity in Korean won markets

Beyond raw volume, XRP also showed stronger liquidity than Bitcoin and Ethereum on Upbit during the year, according to exchange level indicators. This meant traders could buy or sell large quantities with minimal price impact, a key consideration for both individual and professional participants.

By the end of 2025, Korean exchanges were estimated to hold roughly 570 million XRP. Market analysts say this accumulation reflects both sustained demand and the tendency of local traders to keep assets on domestic platforms for frequent trading.

South Korea’s crypto market has long been characterized by strong participation from individual investors rather than institutions. XRP’s structure and trading behavior appear well suited to this environment, supporting high turnover while reducing sharp intraday price swings compared to some other heavily traded tokens.

Why South Korea matters for XRP

South Korea has historically been one of XRP’s strongest regional markets. The country’s regulatory framework allows active spot trading, while its tech savvy population has embraced digital assets as a mainstream investment and trading tool.

According to reports, XRP’s strong performance on Upbit reinforced its position as a preferred trading asset among Korean retail investors. Unlike Bitcoin, which is often held as a long term store of value, XRP is frequently used for short term trading strategies that benefit from high liquidity and consistent volume.

This distinction may help explain why XRP outperformed larger assets on a platform where day to day trading activity is a key driver of rankings.

Upbit’s user base fuels activity

Upbit’s scale also played a central role in XRP’s trading dominance. The exchange reported approximately 13.26 million registered users in 2025, equivalent to nearly one quarter of South Korea’s total population.

Traders in their 30s represented the largest demographic group, accounting for 28.7 percent of users. Men made up about 65 percent of the overall user base, while women accounted for 43 percent of new registrations, according to exchange data.

Trading activity on the platform peaked around 9:00 a.m. Korea Standard Time, suggesting that many users trade during standard working hours rather than late at night. More than 300,000 users also participated in staking programs, highlighting the growing sophistication of retail engagement beyond simple spot trading.

Implications for the wider crypto market

XRP’s dominance on Upbit underscores the importance of regional markets in shaping global crypto narratives. While Bitcoin and Ethereum continue to lead in market capitalization and institutional adoption, exchange specific data shows that retail behavior can tell a different story.

For exchanges, the trend highlights the value of maintaining deep local currency liquidity and catering to the preferences of domestic users. For issuers and developers, it reinforces the idea that sustained engagement, rather than headline driven spikes, can drive long term relevance in key markets.

Analysts also note that South Korea’s influence often extends beyond its borders. Trading trends on major Korean exchanges have historically preceded shifts in sentiment elsewhere, making XRP’s sustained lead worth watching in 2026.

As regulatory discussions continue globally and competition among exchanges intensifies, market participants will be monitoring whether XRP can maintain its position on Upbit or if trading leadership rotates again.

Key factors to watch include changes in Korean crypto regulations, shifts in retail sentiment, and the emergence of new high liquidity trading pairs. How XRP performs during periods of broader market volatility may also determine whether its dominance reflects a structural preference or a cycle specific trend.

XRP’s rise to the top of Upbit’s trading rankings in 2025 was driven by steady daily demand, deep liquidity, and strong retail participation in South Korea. By outperforming Bitcoin and Ethereum on the country’s largest exchange, XRP demonstrated how regional market dynamics and consistent engagement can outweigh sheer size or global prominence. As 2026 unfolds, its performance on Korean platforms will remain a key indicator of shifting retail sentiment in one of the world’s most active crypto markets.