The competition between XRP and Stellar (XLM) has been ongoing for several years, with both cryptocurrencies focused on enhancing payment systems. Despite XRP’s long-standing dominance in the market, recent trends suggest that XLM is making significant gains, particularly in certain regions. Reports indicate that retail traders in South Korea are favoring XLM over XRP, which has led to a noteworthy increase in Stellar’s market capitalization while XRP’s value seems to be waning.
XLM Outperforms XRP in South Korean Trading
In a remarkable development, XLM surpassed XRP in trading volume on Upbit, South Korea’s leading cryptocurrency exchange. This shift reflects a growing preference among retail traders who are increasingly flocking to XLM.
According to market analyst Xaif Crypto, XLM achieved approximately $252.3 million in trading volume over a 24-hour period on Upbit. In contrast, XRP managed only about $125.7 million in the same timeframe, which is less than half of XLM’s volume. This marks a significant milestone as it is the first time XLM has edged ahead of XRP in trading activity, positioning it as the top asset on Upbit.
This surge in trading activity coincides with increased interest in XLM’s potential role in tokenized finance in South Korea. Recent announcements linking Stellar’s blockchain to initiatives involving the US Depository Trust & Clearing Corporation (DTCC) have contributed to growing momentum. The DTCC is a major financial market infrastructure organization, and its involvement signifies notable recognition of Stellar’s capabilities.
As a result, South Korean investors, who have traditionally leaned towards XRP, have started to show increased interest in XLM. Reports indicate that XLM’s price has surged over 55% within the past week, marking a shift in trading sentiment. Meanwhile, XRP has struggled and recently fell below $1.30, despite its former popularity among traders in the region.
Market Analysts Predict XRP Recovery Post XLM Surge
In a separate analysis, crypto expert CW posits that XRP may be poised for a resurgence following XLM’s recent success. CW pointed out that XRP’s current trading levels resemble those of XLM prior to its recent 57% price increase, suggesting that XRP could be ready for its own upward movement.
- According to CW, XRP is awaiting a “start signal” for a price rally.
- The analyst believes that XRP’s momentum could mirror that of XLM if favorable conditions persist.
Despite the uncertainty, CW’s projections for XRP include ambitious targets, indicating the potential for new all-time highs near $56. While such predictions should be approached with caution, they reflect a growing optimism among market enthusiasts who believe XRP may still have significant movements ahead in the current market cycle.
