XRP has shown significant growth, reaching the $2.90 mark due to active purchases from South Korean traders. This rise sparked speculation that XRP might have surpassed Ethereum in trading volume on Coinbase.
XRP Climbs to $2.90
Earlier today, XRP surged to $2.90, marking a significant price rally driven by increased demand from South Korean retail traders. According to a post by Whale Insider, XRP recorded $413 million in 24-hour trading volume on Coinbase, making it second only to Bitcoin.
Fact Check: Did XRP Flip Ethereum?
However, an independent review by 36crypto revealed that XRP has not yet surpassed Ethereum in the Coinbase rankings. On-chain data indicates that XRP is currently in third place, even though it succeeded in moving past USDT.
Factors Driving XRP's Surge
XRP's price rally is supported by several key factors, with trading activity from South Korean investors playing a central role. Upbit leads in XRP transactions, showing over $500 million. Additionally, the ISO 20022 update has sparked interest from investors due to its compatibility with financial systems.
XRP's rise to $2.90 has brought it into the spotlight, and while it is yet to surpass Ethereum in Coinbase rankings, the surge remains significant with South Korean trading activity and the ISO 20022 rollout supporting optimism around XRP's adoption.
