$1,200,000,000 XRP Volume Sends Token Past USDT in Surprise Flip

XRP has officially overtaken the biggest stablecoin USDT by Tether in market capitalization, according to data provided by CoinMarketCap. As of today, XRP is in third place worldwide, with a market cap over $153 billion, just ahead of Tether’s $150 billion. 

This shift is seen as a sign of increased trading volume across major South Korean exchanges, with a combined XRP/KRW volume of over $1.2 billion in the past 24 hours.

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Upbit and Bithumb are the main ones. XRP/KRW made up 18.34% of the trading volume on the former and 18.02% on the latter. The pair is leading both platforms by volume share, pushing XRP ahead in liquidity and market attention. 

Right now, XRP is trading at around $2.62-$2.63, and there is a clear upward trend on the four-hour chart.

Meanwhile, Solana (SOL) has overtaken Binance Coin (BNB), grabbing fifth place in the overall market cap rankings. Solana’s market value is now around $93.9 billion, compared to BNB’s $92.5 billion. 

Both assets have shown positive weekly performance, but Solana’s recent strength – backed by consistent daily gains – was enough to knock BNB off the leaderboard.

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These changes are happening at the same time as the crypto market is becoming more volatile. Bitcoin is still in first place at over $103,000, and Ethereum is in second place with strong weekly growth of more than 42%. 

As things stand, it looks like XRP’s rise is mostly due to high demand on the Korean market, where fiat on-ramps and local interest in altcoins are clearly impacting trading flows.