Stellar’s XLM has overtaken XRP in trading volume on Upbit, South Korea’s biggest crypto exchange. Over the past 24 hours, XLM logged $252.3 million in volume against XRP’s $125.7 million — a flip that signals a clear shift in retail appetite. XLM’s price jumped over 55% to $11 during the same week, while XRP slid below $1.3 despite its historic popularity among Korean traders.
The Upbit volume flip
Just weeks ago, XRP was leading trading volume on Upbit, ahead of even bitcoin and ethereum. That dominance evaporated fast. The data from June 3 shows XLM not just ahead but nearly double XRP’s tally. For a market known for its fickle retail flows, the rotation is stark.
What’s driving the move
Interest in Stellar’s role in tokenized finance surged after news linked the blockchain to the US Depository Trust & Clearing Corporation’s tokenization efforts. That DTCC tie-up gave traders a narrative to chase. Meanwhile, crypto analyst CW predicts XRP could follow XLM’s bullish path. CW notes that XRP was trading at similar levels before XLM’s 57% rally, and sees a potential target near $56 — new all-time highs.
Retail rotation in Seoul
South Korean retail traders have been rotating out of XRP and into XLM, chasing stronger momentum. It’s a familiar pattern in this market: once a token shows outsized gains, the crowd piles in. The timing isn’t great for XRP holders who watched their coin lead the exchange only to slip back. But for Stellar bulls, the volume spike suggests the rally has legs — at least for now.
What comes next
CW’s call on XRP hinges on whether it can replicate Stellar’s breakout. If XRP does follow, the next milestone would be challenging its all-time high. No one’s calling that a sure thing, but the rotation itself is the story this week on Upbit.
