South Korea's Largest XRP Market Shows Declining Spot Trading as Derivative Leverage Rises

1. XRP spot trading volume on South Korea's Upbit drops nearly 51% from late June to mid-July Newsworthy Reliable Very negative
2. Binance sees a 99% plunge in XRP inflows and outflows, while deposit addresses fall 97.6% Newsworthy Reliable Very negative
3. XRP remains Upbit's second-largest trading market but trades 1.1% below global fair value Relevant Reliable Negative
4. The disappearance of the Kimchi premium indicates weakening retail XRP demand in South Korea Relevant Plausible Very negative
5. XRP open interest on Binance derivatives rises 5.9%, leverage ratio hits recent peak of 0.162 Newsworthy Reliable Positive
6. Despite falling spot volumes, funding rates in XRP derivatives remain positive and 172.5% above monthly average Relevant Reliable Positive
7. Analyst CryptoOnchain suggests leverage increase reflects cautious slow repositioning, not aggressive speculation Relevant Reliable Neutral

Type: standard news · Analysis confidence: 95%

Used in syntheses

• ChatGPT forecasts XRP price at $1.35 by Q3 2026 • Ripple triples prime brokerage revenue • Secures full EU MiCA authorization • XRP Ledger surpasses 8 million accounts • ETF inflows mixed • Former CTO regrets early XRP sales • XRP classified as digital commodity by SEC and CFTC
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