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XRP, SUI and GMT emerged as the top three cryptocurrencies in the last 24 hours on South Korea’s largest exchange, Upbit.
Bitcoin stood below at the fourth position recording only $80 million worth of transactions.
XRP price is still maintaining its bullish streak despite correcting by 12% a few days ago, thanks to the surge in new addresses.
With XRP price soaring for the last few days, Ripple investors are having a field day as the altcoin has become a must-have for crypto investors. Consequently, the cryptocurrency has not only taken on, but also eclipsed top crypto assets to emerge as the most in-demand in some regions.
XRP price has maintained an uptrend with the help of Ripple enthusiasts and Securities and Exchange Commission (SEC) haters. The Securities and Exchange Commission partially won and partially lost the lawsuit it filed against XRP’s parent company Ripple in December 2020. Since the ruling, the altcoin has found rising interest resulting in a different win today.
Over the past 24 hours, XRP has outperformed Bitcoin, Ethereum and many other top cryptocurrencies, emerging as the most traded asset on South Korea’s biggest crypto exchange, Upbit.
At the time of writing, XRP notes over $400 million worth of trading in the last 24 hours, followed by SUI recording $173 million worth of trades. GMT came in as the third most traded asset at $131 million, while Bitcoin stood fourth, bringing in $87 million in trades.
Upbit 24-hour trading volume
To put into perspective the impact of Ripple taking home the win of not being a security unless it’s used for institutional sales, XRP noted almost 4.5 times higher volume on Upbit than the biggest cryptocurrency in the world.
Furthermore, this bullishness is also the result of rising interest in the cryptocurrency, which has led to a sudden increase in the number of investors as well. The XRP network growth has been decently inclining, which suggests that the rate at which new addresses have been created in the last five days is 164% faster than the average.
XRP network growth
This is reflected in the price action as well since XRP price is still up by nearly 3% in the last 24 hours, even when Bitcoin price slipped below $30,000. Despite correcting by nearly 12% right after the 73% rally, the altcoin is still noting an uptrend, which is bound to slow down soon.
XRP/USD 1-day chart
However, if investors continue to act as bullish as they are at present, a severe drawdown could be deflected, keeping the XRP price above the $0.70 support area.
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