XRP officially overtakes the largest Stablecoin USDT by market capitalization Tether, according to data provided by CoinmarketCap. As of today, XRP is the third largest in the world, with a market capitalization of over $153 billion, surpassing Tether's $150 billion.
This shift is seen as a sign of an increase in volume across South Korea's major exchanges, summing XRP/KRW volumes that exceed $1.2 billion over the last 24 hours.
The main ones are Upbit and Bithumb. XRP/KRW accounted for 18.34% of the former trading volume and 18.02% of the latter trading volume. The pair leads both platforms in volume shares, bringing XRP to liquidity and market attention.
Currently, XRP is trading between around $2.62 and $2.63, with a clear upward trend on the four-hour chart.
Meanwhile, Solana (Sol) has surpassed Binance Coin (BNB) and ranked fifth in the market capitalization ranking. Solana's market value is currently around $93.9 billion compared to BNB's $92.5 billion.
Both assets show positive weekly performance, but Solana's recent strength is driven by consistent daily profits – was enough to knock BNB out of the leaderboard.
These changes are happening simultaneously as the crypto market is becoming more unstable. Bitcoin is still number one at over $103,000, while Ethereum is second at over 42% weekly growth.
As things stand, the rise in XRP appears to be largely due to high demand for the Korean market. This is clearly affecting the trading flow of local interest in fiat-on-ramps and altcoins.
