XRP News Today: Upbit’s XRP, ETH, BTC Dominate Despite Declining Trading Volume

Upbit’s trading volume has continued to decline, with its top three most actively traded assets—XRP, ETH, and BTC—remaining unchanged despite a broader rise in global cryptocurrency trading volumes to $1.823 trillion in July [1]. Over the past 24 hours, Upbit’s total trading volume stood at $2.134 billion, with the XRP/KRW pair leading the activity at 20.39% of the total [1]. The trend highlights a growing concentration among users toward a narrow set of assets, even amid increased global interest in the crypto market.

XRP, the leading asset on Upbit, has shown significant price volatility recently, falling below $3 after reaching a high of $3.17 in a single session. Analysts attribute the decline to strong sell pressure that outpaced initial buyer interest [3]. Meanwhile, Bitcoin and Ethereum partially recovered their overnight losses following the U.S. Federal Reserve’s recent decision, which has introduced greater uncertainty into monetary policy expectations [4]. This has led to renewed attention on BTC and ETH, though their dominance on Upbit appears more structural than cyclical.

Ethereum saw a 19.48% increase in incoming volume from decentralized application (dapp) activity over the past week [1]. However, this did not lead to a corresponding rise in Ethereum trading volumes on Upbit, which continues to see BTC as the most liquid and widely adopted asset. XRP’s consistent ranking among the top three suggests it still holds a unique role in specific use cases such as cross-border payments and institutional trading, despite recent price instability.

The broader market is also seeing shifts in institutional positioning, as illustrated by Coinbase’s 40% reduction in XRP holdings [5]. This move reflects a reevaluation of exposure to altcoins, which could influence the dynamics of XRP trading volumes on exchanges like Upbit. However, there is currently no evidence that these institutional moves have directly altered the asset’s status as a top-three performer on the platform.

Regulatory developments in South Korea remain a critical factor in Upbit’s trading environment. Authorities are intensifying oversight of leveraged trading and crypto lending, with investigations now including major exchanges such as Upbit and Bithumb [2]. These regulatory shifts are expected to influence user behavior and platform adoption, as traders adapt to a more cautious and compliance-focused landscape.

As the global crypto market evolves, Upbit must navigate both internal user preferences and external regulatory pressures to maintain its competitive position. While Bitcoin and Ethereum continue to draw market attention, the continued dominance of XRP, ETH, and BTC on Upbit underscores the exchange’s current alignment with market liquidity and trading behavior patterns.

Source:

[1] (https://www.ainvest.com/news/bitcoin-news-today-global-crypto-trading-volume-hits-1-823-trillion-july-driven-55-surge-bitcoin-ethereum-gains-2508/)

[2] (https://www.instagram.com/p/DMzCSgoN9K6/)

[3] (https://cryptoadventure.com/xrp-falls-8-below-3-after-hitting-resistance-high-volume-selloff-signals-weakness/)

[4] (https://cryptoadventure.com/bitcoin-xrp-ether-recoup-overnight-losses-as-analysts-point-to-growing-threat-to-fed-independence/)

[5] (https://cryptonews.net/news/analytics/31350112/)