XRP News Today: XRP Surges 100% to $2.90 Driven by South Korean Demand

XRP, the cryptocurrency developed by Ripple Labs, has recently experienced a significant surge, climbing to $2.90. This price rally was driven by increased demand from South Korean retail traders, sparking claims that XRP had overtaken Ethereum to become the second most-traded asset on Coinbase by volume. According to a post by Whale Insider, XRP recorded $413 million in 24-hour trading volume on Coinbase, second only to Bitcoin. This development brought great enthusiasm to the XRP community, as it suggested that XRP had flipped Ethereum to take the #2 spot on the exchange's rankings charts.

However, an independent review by 36crypto revealed that XRP had not yet overtaken Ethereum in the Coinbase rankings. On-chain data indicated that XRP was in the 3rd position on the exchange at the time. The token only succeeded in moving past USDT to third place in terms of market exposure and trading. Nonetheless, Ethereum remained above XRP on the Coinbase chart. This finding directly contradicted the earlier assertion that XRP had flipped Ethereum, highlighting the importance of verifying claims with reliable data.

The surge in XRP's price is supported by several key factors. Trading activity from South Korean investors played a central role, with Upbit leading in the volume of XRP transactions. Additionally, the ISO 20022 update to the messaging standard used by the U.S. Federal Reserve has attracted attention in the market. The release of this service is officially planned for today. XRP is an ISO 20022-aligned currency, and its compatibility has boosted investors’ confidence in its suitability for financial systems. Partnerships with large institutions like SBI Holdings and Bank of America have also added credibility to Ripple’s work in cross-border payments and real-time settlement.

XRP’s climb to $2.90 has placed it in the spotlight, with rising trading volume and institutional relevance fueling optimism. While it did move up the Coinbase chart by surpassing USDT, XRP has not yet flipped Ethereum for the #2 spot. The surge remains notable, however, as the ISO 20022 rollout adds further support to the token’s growing adoption narrative. The dynamic nature of the cryptocurrency market means that rankings can change rapidly, and while XRP's rise to the second spot on Coinbase is a significant achievement, it does not guarantee sustained success or dominance in the market. The cryptocurrency landscape is highly volatile, and rankings can change rapidly based on a variety of factors.