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A recent post by XForceGlobal has sparked widespread debate and discussion, asserting that nearly 20% of the total global market capitalization of XRP is concentrated in South Korea. While such a statement may seem extraordinary at first glance, an examination of available data and recent market trends reveals it to be largely accurate, offering a fascinating glimpse into South Korea’s unique affinity for XRP.
XRP’s dominance in South Korea is no fluke. On the country’s largest exchange, Upbit, XRP frequently surpasses Bitcoin and Ethereum in daily trading volume. In late 2024 and early 2025, XRP’s daily volume on this platform exceeded $700 million, outpacing both Bitcoin and Ethereum combined. Furthermore, Korean exchanges witnessed over $1 billion in spot XRP volume within a single day in December 2024, an astonishing figure that underscores its entrenched popularity among local investors.
Unsurprisingly, the majority of XRP trading activity in South Korea takes the form of spot-based transactions. This stark contrast to global markets where derivatives and leveraged products predominate suggests that Korean traders are actively buying actual XRP tokens rather than speculating through futures or perpetual contracts. Such a pattern implies that XRP ownership is deeply ingrained within the Korean crypto investor base, further bolstering XForceGlobal’s assertion that “all Koreans who own crypto most likely hold XRP.”
XRP’s market capitalization concentration in South Korea is equally striking. While determining the exact percentage of global XRP market cap held by Korean investors may be challenging due to anonymous wallet distributions, estimates derived from exchange activity and regional trading flows indicate a high likelihood of the figure being within the 15-20% range. With XRP’s global market capitalization hovering around $28 billion at the start of Q3 2025 and Korean exchanges consistently responsible for over $1 billion in daily spot volume, it appears probable that South Korean investors comprise roughly one-fifth of the token’s total liquidity.
South Korea’s affinity for XRP can be attributed to a combination of utility, regulatory clarity, and market psychology. Korean exchanges operate under relatively transparent regulatory guidelines, allowing XRP to thrive during its regulatory battles in the United States. For retail traders in South Korea who prioritize speed, efficiency, and volatility, XRP’s low transaction fees and rapid settlement times render it an attractive alternative to Bitcoin and Ethereum.
Furthermore, the phenomenon of a ‘Kimchi premium’ – where cryptocurrency prices in South Korea often outpace global averages – fosters a self-reinforcing cycle where investors actively engage with tokens like XRP, which typically benefit from this phenomenon.
Source: timestabloid.com
