Stellar token overtakes rival in South Korea’s largest crypto exchange as retail traders shift momentum
Stellar (XLM) has surpassed XRP in 24-hour trading volume on Upbit, South Korea’s largest crypto exchange, marking the first time the rival payment-focused token has overtaken XRP in this metric. XLM recorded $252.3 million in trading volume compared to XRP’s $125.7 million during the same period.
The shift reflects a broader momentum change among South Korean retail traders. XLM climbed more than 55% over the past week to reach $11, while XRP fell below the $1.3 level. CW, a crypto analyst, noted the dynamic in technical terms: “XRP is waiting for a ‘start signal’ and is currently trading around the same level where XLM was before its recent 57% price rally.”
XRP has historically dominated trading volume in Asian markets including South Korea, Japan, and Thailand. The reversal on Upbit signals a notable departure from that pattern. Weeks ago, XRP was leading trading volume on Upbit ahead of Bitcoin and Ethereum, according to market data.
Stellar’s recent surge in South Korean interest follows announcement of plans linking the Stellar blockchain to tokenization efforts involving the Depository Trust & Clearing Corporation (DTCC). This development appears to have accelerated retail appetite for XLM in the region.
XRP and XLM share origins as payment-focused cryptocurrencies, with a rivalry spanning years. Both tokens target cross-border settlement and liquidity use cases, though they operate on separate blockchains and serve different networks of validators and institutions.
CW’s analysis suggests XRP could follow XLM’s bullish trajectory if momentum continues to build. The analyst projects a potential all-time high target of $56 for XRP, though this remains contingent on the token breaking above key resistance levels and establishing fresh buying pressure.
The volume shift on Upbit reflects the fluid nature of retail trading preferences in South Korea, where crypto adoption remains among the highest globally. Whether XLM maintains its volume advantage or XRP reclaims its historical dominance will depend on sustained institutional and retail demand for each token’s underlying use cases.
