XRP Surges Ahead on Upbit Reserves
In an unprecedented move, XRP has nearly matched Bitcoin’s dominance in Upbit’s reserve portfolio. This is significant because most major exchanges still hold Bitcoin as their leading reserve asset. Data from CryptoQuant confirms that XRP reserves on the South Korean platform are now valued almost on par with BTC.
This rare balance has made Upbit stand out among global peers in terms of asset allocation. Analysts view this as a potential signal of shifting investor demand in the region.
Why South Korea Prefers XRP
South Korean investors have historically shown stronger appetite for XRP compared to other global markets. Cultural factors, including a preference for fast, low-cost remittances, align with XRP’s core utility. Upbit’s heavy allocation toward XRP reflects this sentiment, underpinned by the exchange’s massive trading volumes.
XRP has frequently ranked among the top-traded assets in South Korea, often surpassing Bitcoin and Ethereum in daily activity. The continued prioritization of XRP reserves demonstrates strong localized confidence in the asset’s long-term role.
Social Media Buzz Adds Fuel
XRP’s surge on Upbit coincides with a rise in global social media mentions. Data from Santiment shows that XRP’s discussion rate has spiked over the past month. Analysts attribute this increase to a series of landmark developments boosting the asset’s visibility.
Investors and influencers have been quick to highlight XRP’s growing legitimacy following favorable regulatory progress. This social momentum often translates into increased trading activity, reinforcing XRP’s market performance.
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SEC Approval Boosts Legitimacy
One of the biggest drivers behind XRP’s resurgence has been the U.S. Securities and Exchange Commission’s (SEC) decision to approve Grayscale’s multi-crypto fund that includes XRP. This move added a layer of regulatory legitimacy that XRP had long struggled to achieve.
Institutional investors now view the asset as safer to include in diversified portfolios. The approval signals that regulators are increasingly open to acknowledging XRP as a compliant investment. This development has significantly boosted confidence in the token’s long-term stability.
CME Group to Launch XRP Futures Options
Adding to the momentum, CME Group recently announced the upcoming launch of options on XRP futures. Scheduled for October 13, this rollout is being closely watched by institutional traders worldwide.
The CME’s decision marks XRP’s entry into a new level of derivatives trading, previously reserved for Bitcoin and Ethereum. Analysts believe this will attract hedge funds and institutional players seeking sophisticated exposure. The move is widely seen as a validation of XRP’s growing importance in global markets.
First U.S. Spot XRP ETF Smashes Records
On September 18, the REX-Osprey XRP ETF launched in the U.S., creating a milestone for institutional adoption. Listed on the Cboe BZX Exchange, it recorded $24 million in trading volume within its first 90 minutes.
This figure was five times higher than any XRP futures ETF achieved on debut, according to Bloomberg’s Eric Balchunas. The explosive performance highlights massive pent-up demand for regulated XRP investment products. Market observers now see ETFs as a potential game-changer for mainstream adoption.
Outlook: A Historic Shift in Crypto Markets
The combination of Upbit’s XRP-heavy reserves, regulatory wins, and record ETF inflows paints a bullish picture. XRP’s ability to surpass Bitcoin in reserves on one of Asia’s largest exchanges marks a historic moment.
Institutional tools like CME futures options and U.S.-listed ETFs are opening doors to new investors. While volatility remains part of the equation, XRP’s momentum is difficult to ignore. Analysts believe this shift could redefine XRP’s role in the broader crypto ecosystem.
