South Koreans Increase XRP and Dogecoin Trading Amid Easing Trade Tensions
Retail traders in South Korea are increasingly investing in XRP and DOGE, reflecting a return of risk-on sentiment among speculative investors.
- Trading volumes for XRP and DOGE on local exchanges exceeded those of BTC and ETH in the past 24 hours.
- XRP and DOGE have risen over 15% in the last week, while BTC increased by 10% and ETH surged nearly 40%, marking its largest weekly gain since 2021.
- UpBit reported 24-hour volumes of XRP/KRW and DOGE/KRW over $250 million, while BTC and ETH remained below $150 million.
- The current trend mirrors previous retail phases in Korea's crypto market, characterized by high volatility asset trading.
- A broader market rally followed a $1 billion short squeeze last week that closed overleveraged positions amid rising prices.
- Improved geopolitical sentiment resulting from U.S.-China tariff reductions has also contributed to this enthusiasm.
- Investors may be more optimistic about crypto as trade tensions ease and potential rate cuts loom.
Upcoming institutional ETF flows and central bank guidance will be monitored as the altcoin speculation drives current momentum.