Pundit Accuses “XRP Team” of Causing Massive Losses Among Korean Traders

Amid the recent XRP price decline, a crypto trader and commentator has called attention to losses suffered by traders in South Korea.

Notably, market pundit Ryker accused the “XRP team” of contributing to major losses among South Korean investors through promotional efforts. 

However, his commentary failed to provide any evidence to support the claims. In addition, XRP’s decline comes as part of a broader downturn affecting the entire crypto market, not just an issue specific to the token.

Ryker Claims the “XRP Team” Promoted XRP in South Korea

In comments shared on X, Ryker alleged that several South Korean celebrities received payments from the “XRP team” to promote XRP when the asset traded between $2 and $3.

He called attention to trading activity on Upbit, South Korea’s largest cryptocurrency exchange, noting that XRP’s trading volume occasionally exceeded that of Binance. 

Considering this, Ryker claimed that many South Korean investors bought XRP and later suffered heavy losses when prices fell. He also stated that he plans to reveal what he described as the people behind these alleged activities in the future.

Allegations Around Influencers and Media Organizations

In a follow-up post, Ryker doubled down on his accusations, claiming that a large number of South Koreans lost money because of the XRP project.

In South Korea, many people lost money because of this $XRP project.

Honestly, the number of people investing in cryptocurrencies in South Korea is huge, so the #XRP team hired many KOLs and media outlets to promote the project in the country.

This project didn’t do anything at… https://t.co/kz1Dy2XAoT

— Ryker (@Ryker_Crypto) June 9, 2026

According to him, South Korea has one of the largest cryptocurrency investor bases, which allegedly led the “XRP team” to work with numerous key opinion leaders (KOLs) and media outlets to promote XRP throughout the country.

Ryker further alleged that the project’s popularity came largely from strong relationships with influencers around the world and extensive media exposure, not from actual achievements. 

He also claimed that the “XRP team” spent massive amounts of money on marketing and liquidity efforts, which he alleged allowed them to sell tokens for profit. According to Ryker, the money allegedly generated from XRP holders was substantial.

XRP’s Popularity in South Korea Predates These Claims

While Ryker suggested that XRP’s popularity in South Korea came from alleged promotional efforts, available market data shows that the country has been one of XRP’s biggest trading markets for years.

South Korea has consistently ranked among the most active regions for XRP trading, sometimes even recording higher trading activity than the United States. Strong interest from Korean investors has helped maintain XRP’s position in the market over a long period.

As a result, XRP has frequently become the most traded cryptocurrency in South Korea, often surpassing both Bitcoin and Ethereum in trading volume. This trend has been especially visible on Upbit, the country’s largest crypto exchange.

Importantly, this pattern is not new. XRP has enjoyed strong support in South Korea for years, especially alongside the presence of SBI Group, a long-term Ripple partner. The trend did not suddenly appear as a result of a recent campaign linked to efforts from an “XRP team.”

Meanwhile, XRP has long attracted positive commentary from crypto analysts, market commentators, and members of the community. However, there is currently no evidence showing that Ripple funds or coordinates campaigns behind these commentaries.

XRP Following Broader Market Decline

Ryker’s comments come at a time when XRP trades around $1.50, representing a 56% decline from its all-time high of $3.60 reached in July 2025.

However, XRP is not the only major cryptocurrency that has experienced a significant pullback. The broader crypto market has faced considerable pressure, leading to sharp declines across many leading digital assets.

Bitcoin currently trades at $62,609, down 50% from its all-time high. Ethereum, the largest altcoin by market capitalization, has fallen even further, dropping 66% from its peak and underperforming XRP during the same period.

Meanwhile, Solana has seen one of the steepest declines among major cryptocurrencies. The asset now trades at $66, down 77% from its all-time high of $295 recorded in January 2025.