XRP The price has risen by over 1.5% in the past 24 hours, approaching $1.51, due to a surge in trading activity in South Korea. Upbit The XRP / KRW trading pair recorded a 24-hour trading volume of 72.3 million US dollars, surpassing that of Bitcoin's BTC / KRW trading pair.
At the same time, senior trader Peter Brandt believes that XRP may be forming a cup pattern, which indicates a potential breakout.
XRP / KRW Trading volume in South Korea soars and surpasses that of Bitcoin
The sharp increase in trading activities in South Korea has driven up the price of XRP. On October 5th, the XRP / KRW on the South Korean cryptocurrency exchange Upbit recorded a 24-hour trading volume of 72.3 million US dollars, which is higher than Bitcoin's 66.4 million US dollars, indicating strong demand for XRP among South Korean traders.
This upward trend occurred after the XRP Asia organization held an event at Grand Hyatt during the Korea Blockchain Week. This event may have increased local attention and helped to boost trading activity.
XRP ETF Net inflows bring more buying pressure
The strength of the spot market has also been supported by the continuous demand from institutional investors in the US spot XRP ETF.
These funds recorded another weekly net inflow of $4.74 million, maintaining a net inflow for the 12th consecutive week. Bitwise led the latest round of inflows, with a net inflow of $2.11 million, and its cumulative net inflow has now exceeded $678.4 million.
Peter Brandt Pays attention to the breakthrough of XRP
Meanwhile, according to the latest chart from senior trader Peter Brandt, XRP may experience a bullish reversal, forming a head and shoulders reversal pattern around $1.55. This pattern is significant because XRP is currently testing the neckline, which could determine its next major trend.
The $1.55 level is a key support level. XRP needs to break through and hold this position in order to confirm this pattern. This structure includes a left shoulder, a head that forms a lower low point, and a higher right shoulder. If the breakout is confirmed, it will indicate stronger buying pressure.
According to the chart of Brandt, the next major resistance level is around $1.6572. If XRP breaks through this level, the price could potentially rise to $1.70, and then move towards the $2.00 region.
This chart also compares the current pattern with the earlier long-term breakout pattern of XRP, including the structures that drove its significant rise in 2017 and its trend at the end of 2024.
Factors that may affect the price of XRP in the coming days
XRP A key event in the coming days will be the anticipated release of two XRP Ledger updates. Batch ( V1.1 ) and Permission Delegation changes are expected to go live around October 8th to 9th, 2026.
These updates may make the network faster and more suitable for large-value transactions. They may also make XRP Ledger more useful for banks and other large corporations.
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