In the quiet corridors of Upbit, a South Korean titan amidst the vast global tapestry of exchanges, a curious phenomenon unfurled – one that might confound the steadfast believers of the old guard, those devoted to the venerable Bitcoin. For here, upon this fortress of reserves, XRP has begun to rise, casting a long shadow that encroaches boldly upon the throne once thought untouchable.
Typically, Bitcoin stands as the unyielding anchor, the lodestar in portfolios across the world. Yet Upbit, in its enigmatic wisdom, has chosen to dance to a different tune, a rare and rebellious deviation that whispers of winds shifting in the cryptographic wilderness.
Upbit’s XRP Bet
In the cold dawn of December 2024, like a general rallying his troops, Upbit bolstered its XRP reserves with sharp and decisive strokes. Since then, this balance has held firm, a mirror to a growing parity with Bitcoin’s kingdom. CryptoQuant, the chronicler of such mysteries, reveals this curious parity in USD value, marking Upbit as a singular bastion where Bitcoin’s supremacy is respectfully challenged.
This delicate equilibrium hints at more than mere chance; it signals a subtle shift in desire and demand, especially when one considers Upbit’s gargantuan influence in Asia’s crypto markets and the torrents of liquidity that course through its veins. In South Korea, XRP does not merely exist – it thrives, cherished by investors who eye it with a passion seldom witnessed elsewhere.
Curiously, this ascent coincides with a surge in social media buzz, the new public square where fortunes and fancies alike gather. Santiment, an oracle of digital sentiment, attributes this chatter to a series of landmark events. The sorcery of legitimacy was furthered by the US Securities and Exchange Commission’s blessing of Grayscale’s multi-crypto fund including XRP, a decree that sprinkled dust of regulatory respectability upon the asset.
As though fate conspired with these developments, CME Group announced the advent of XRP futures options to begin October 13, further fueling the flames of investor enthusiasm and communal engagement. One might say, the crypto world is witnessing an unexpected parade, where XRP struts boldly, much to the chagrin of Bitcoin’s traditionalists. 🐂🔥
New XRP ETF Defies Expectations
In a crescendo of surprises, REX-Osprey unveiled the first US spot XRP ETF on September 18, an event that might be likened to the sudden appearance of a rare phoenix amid the skies of institutional finance. Launched on the Cboe BZX Exchange, this newcomer, named XRPR, stormed through its debut with a staggering $24 million in trading volume – and that was within a mere 90 minutes. A feat that would compel even the stoniest of Bitcoin enthusiasts to raise an eyebrow, if only politely.
Bloomberg’s Eric Balchunas, no stranger to such spectacles, noted that this was five times the volume of any XRP futures ETF first-day total – a veritable eruption of appetite for a regulated gateway to XRP’s realm. One might say the institutions are waking up, stretching, and realizing that perhaps the game is not yet played out. Or at least not played on Bitcoin’s terms alone.
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2025-09-19 23:22