XRP’s 400% Price Surge: Coinbase Whales Take Center Stage Beyond Korea’s Influence

XRP has experienced a meteoric rise, surging over 400% in the last 30 days to reach $2.60. While South Korea’s heavy trading volumes have played a significant role in this rally, there’s another story brewing in the U.S. market. Whales on Coinbase, one of the largest U.S.-based exchanges, have shown substantial buying interest, contributing to the price momentum.

What to Know:

• XRP’s Price Surge: XRP has surged by over 400% in 30 days, propelled by global demand and renewed optimism about Ripple’s potential adoption as a bridge currency for international payments.
• Coinbase Whale Activity: Data reveals a consistent XRP price premium on Coinbase compared to Binance, ranging from 3% to 13%. This premium suggests increased whale activity in the U.S. market.
• South Korea’s Dominance in Trading Volume: South Korean exchange Upbit leads in trading volume, accounting for $7.63 billion in XRP/KRW trades in just 24 hours.
• Relisting Boost in the U.S.: Following Ripple’s legal victory earlier this year, XRP’s relisting on major exchanges like Coinbase has revitalized its U.S. trading activity.

Check out our in-depth Coinbase review

XRP’s Global Rally: South Korea and Coinbase Lead the Charge

South Korea has long been a powerhouse in crypto trading, and XRP’s recent rally has been no exception. On Upbit, XRP/KRW trading pairs dominate, representing 26% of the exchange’s total activity over the past 24 hours. South Korean traders have consistently shown enthusiasm for alternative coins, often driving significant price moves.

However, the U.S. market is also playing a crucial role in XRP’s performance. Minute-level pricing data from analytics platforms shows that the XRP/USD pair on Coinbase has consistently traded at a premium compared to Binance’s XRP/USDT pair. This premium highlights heightened interest from U.S.-based investors, particularly whales.

The Role of Whales on Coinbase

Whales—entities holding large amounts of XRP—have been active on Coinbase, contributing to the so-called “Coinbase premium.” The elevated demand suggests growing confidence among U.S. investors, especially with the regulatory clarity Ripple has gained after its legal battle with the SEC.

The narrative around XRP’s potential as a “bridge currency” for international payments has further bolstered its appeal. With the possibility of broader institutional adoption, whales appear to be positioning themselves ahead of a potential long-term rally.

The Legal Catalyst: XRP’s Relisting in the U.S.

XRP’s absence from major U.S. exchanges during Ripple’s legal struggles significantly impacted its trading activity. However, the favorable resolution of the case earlier this year led to XRP’s relisting on platforms like Coinbase. This move has unlocked new liquidity streams, allowing U.S. investors to re-enter the market.

The Coinbase premium and whale activity signal growing optimism about XRP’s future in the U.S., with investors banking on the token’s adoption for cross-border payments.

South Korea vs. U.S.: A Tale of Two Markets

While South Korea dominates in terms of trading volume, accounting for billions in daily XRP trades, the U.S. market has shown a different type of influence—price premiums driven by whale activity. Both regions are essential to XRP’s rally, with Korea providing liquidity and the U.S. contributing strategic demand.