XRP dominates South Korea trading as price slides 15% to key support

XRP/KRW remained the top trading pair on Upbit, South Korea's largest exchange, even as the token fell 15.2% in a week to test support near the ₩1,700 zone.

XRP/KRW declined from above ₩2,000 to about ₩1,712 over the seven days through June 6, CoinGecko data shows. The drop came during a broader crypto selloff that pushed Bitcoin below $63,000 and erased $330 billion from total market capitalization. Despite the price weakness, XRP maintained its position as the most actively traded asset on Upbit, regularly surpassing both Bitcoin and Ether in daily volume.

"XRP's trading activity on Upbit reflects sustained retail demand that has persisted through multiple drawdowns this year," said data from the exchange's order book, which showed the XRP/KRW pair accounting for more than one-fifth of Upbit's daily activity on several sessions. In mid-May, XRP recorded about $110.9 million in daily trading volume on the exchange, compared with $88.6 million for Bitcoin and $67 million for Ether.

The scale of adoption in South Korea is notable. About 13.26 million users have traded XRP on Upbit, representing nearly one-quarter of the country's population, according to exchange data. XRP processed more than $1 trillion in cumulative trading volume on Upbit during the 2025 calendar year, placing it ahead of both Bitcoin and Ether.

The ₩1,650 to ₩1,700 range has emerged as the key support zone after attracting buying interest during the decline. Resistance now sits near ₩1,800 and ₩1,900, levels that rejected recovery attempts on June 2 and June 3. The weekly chart shows a series of lower highs and lower lows, indicating sellers maintained control through the period.

On-Chain Signals Paint a Mixed Picture

XRP's monthly relative strength index has fallen to 41.64, the lowest reading the indicator has ever recorded for the token — lower even than the 43.75 it hit in March 2020 when XRP bottomed at $0.11, according to TradingView data. On the daily timeframe, the RSI has dropped to 27.55, deep in oversold territory.

Whale withdrawals from Binance have fallen to about 978 million XRP over the past 30 days, the lowest reading since 2021, CryptoQuant data shows. The decline suggests large holders have paused accumulation during the selloff. At the same time, wallets holding at least 10,000 XRP hit a record 332,230 in May, a count that has grown through every drawdown in 2026.

Institutional Tailwinds Emerge Despite Price Weakness

Three structural developments have shifted in XRP's favor this month. CME launched 24/7 XRP futures on June 1 with Ripple Prime as the day-one clearing partner, opening institutional access beyond spot trading. Ripple expanded its Washington D.C. policy office on June 3, deepening engagement with U.S. regulators. The CLARITY Act, a market structure bill that would codify XRP's classification as a digital commodity, was placed on the Senate Legislative Calendar on June 1.

Polymarket gives the bill 55% odds of passing in 2026. A full Senate vote before the August recess would remove a regulatory overhang that has weighed on XRP for years. If the $1.14 support level holds and whale withdrawals from Binance begin climbing back above current levels, the setup for a recovery could strengthen. A break below $1.11, February's low, would open the path toward the $1.00 Bollinger Band floor.

This article is for informational purposes only and does not constitute investment advice.