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Korea’s Largest XRP Market Sees Declining Spot Volume While Leverage Grows in Derivatives

Overall sentiment: Very negative

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Published Jul 21, 2026 · Retrieved Jul 21, 2026

business technology finance

XRP spot trading volume on South Korea's Upbit has dropped nearly 51% over one month to 258 million XRP by mid-July 2026. Newsworthy Reliable Very negative
XRP spot deposits and withdrawals on Binance fell about 99% in one week, indicating sharply reduced user activity. Newsworthy Reliable Very negative
Despite weak spot markets, XRP derivatives open interest on Binance rose 5.9% to 423.8 million, pushing leverage ratio to recent highs. Newsworthy Reliable Positive
Funding rates for XRP derivatives dropped 29.9% from last week but remain significantly above monthly and quarterly averages. Relevant Reliable Neutral
XRP price modestly increased by 3.96% to $1.13 amid broader crypto market rally in mid-July 2026. Relevant Reliable Positive
XRP's Network Value to Transactions (NVT) ratio rose 45.6% above its three-month baseline while transaction counts and active addresses declined. Relevant Reliable Negative
The disappearance of the South Korean ‘Kimchi premium’ suggests weakening local retail demand for XRP. Relevant Reliable Very negative
Cautious derivatives positioning is occurring without aggressive spot market participation, indicating slow market repositioning. Relevant Reliable Neutral

Type: standard news · Analysis confidence: 95%

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