Bitcoin News Today: XRP Outperforms Bitcoin Ethereum in Trading Volume on South Korean Exchanges Despite 2% Price Dip

Ripple’s XRP has emerged as a standout performer in a key on-chain metric, outpacing Bitcoin and Ethereum in trading volume on major South Korean exchanges despite a recent price correction. On Upbit, XRP’s 24-hour trading volume surged to approximately $600 million, nearly double that of Kyber Network, the second-ranked asset [1]. Meanwhile, Ethereum claimed the third spot, with Bitcoin lagging behind. On Bithumb, XRP led with $240 million in volume, ahead of USDT and ETH, while BTC fell to ninth place, trailing meme coins like PENGU and DOGE [2]. These figures highlight a shift in investor behavior, particularly in Asia, where XRP’s utility in cross-border payments may be driving demand.

However, the price action for XRP has been less robust. Over the past 24 hours, the token fell below $3.3 to around $3.15, marking a decline of over 2%. This dip contrasts with its market capitalization gains, which recently saw XRP reclaim the third-largest cryptocurrency position at a weekly close of $3.45 [3]. The divergence between volume and price underscores potential selling pressure, with analysts noting that increased trading activity may reflect profit-taking rather than sustained bullish sentiment.

Bitcoin and Ethereum also experienced downward trends, dropping 1.4% and 2.4%, respectively. The broader crypto market faces headwinds from macroeconomic uncertainties and regulatory scrutiny. Bitcoin’s on-chain metrics, including its MVRV (Market Value to Realized Value) indicator, highlight a critical support level at $110,000, a threshold it has narrowly held above as of July 28 [1]. While BTC remains above its 50-day and 200-day moving averages, aggregate crypto inflows of $82 billion remain well below the $135 billion peak of early 2024, signaling subdued institutional enthusiasm [1].

Ethereum’s performance, meanwhile, has been shaped by record ETF inflows and institutional adoption in decentralized finance (DeFi). Yet XRP’s price resilience, despite its limited ecosystem diversification, suggests a unique appeal in niche use cases such as remittances. Analysts like Ali Martinez caution against speculative forecasts for Bitcoin’s price—such as the $150,000 target circulating on social media—as they lack methodological rigor [2]. For XRP, the absence of granular on-chain data complicates assessments of whether its gains stem from structural adoption or short-term speculation.

Geopolitical factors further cloud the outlook. Recent comments by Donald Trump regarding tensions with Russia and Iran have contributed to a minor market correction, exacerbating volatility. XRP’s legal battles with U.S. regulators also cast uncertainty over its long-term viability, particularly compared to Bitcoin and Ethereum, which have secured broader institutional backing. Arthur Hayes of BitMEX has even shifted focus to NFTs, suggesting that assets like CryptoPunks may outperform ETH due to their cultural appeal [3].

For XRP to sustain its position as the third-largest cryptocurrency, it must balance price momentum with fundamental adoption. While its volume metrics reflect strong liquidity in Asian markets, macroeconomic conditions and regulatory clarity will remain pivotal. Investors are advised to monitor on-chain data and geopolitical developments closely, as divergences between price action and broader market fundamentals could signal an impending correction.

Sources:

[1] [Here’s the key level Bitcoin must hold to claim $130,000 as ‘peak euphoria’ looms](https://finbold.com/heres-the-key-level-bitcoin-must-hold-to-claim-130000-as-peak-euphoria-looms/)

[2] [Global liquidity is exploding. $150K Bitcoin might not be ...](https://www.instagram.com/p/DMjrg2yRBxM/)

[3] [CryptoPunks to Outshine ETH This Cycle, Says Arthur Hayes](https://cryptoadventure.com/cryptopunks-to-outshine-eth-this-cycle-says-arthur-hayes/)