The past week saw XRP’s value increase by 26%, causing trading volumes on top Korean exchanges like UpBit, Bithumb, and Korbit to reach billions of dollars. In the past 24-hour period, CoinDesk states that XRP accounted for 37% of Bithumb’s trading volume, 18% on UpBit, and a remarkable 50% on Korbit, with trading pairs against the U.S. dollar and Korean won.

CoinDesk says some of the increased volumes could be due to wash trading, a technique used to manipulate market activity by repeatedly buying and selling the same asset.