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The subtle rivalry between XRP and Ethereum (ETH) now goes beyond just the market capitalization and ranking of both currencies. A new report shows that South Korean traders' perception of both currencies has changed. For every a reconnaissance By local media platform News1, these experienced cryptocurrency traders chose XRP over Ethereum.
Korean convergence for XRP
The News1 survey spanned from December 24 to December 26, surveying 5,220 investors while investigating their top cryptocurrency options. Based on the ranking of the best assets by these participants, Bitcoin retained the top spot as the most preferred asset in the country.
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XRP comes after Bitcoin before Ethereum, a unique development that shows the popularity of the first currency in the region. Over the past few months, the retail market in South Korea has played a pivotal role in increasing demand for XRP.
like I mentioned By U.Today It has always been known that Upbit, the largest cryptocurrency trading platform in the country, is witnessing intense outflows of XRP amid specific buying pressure. With evidence of greater activity over the past month, the impact on the currency price remains clear.
According to a News1 report, XRP has remained the currency of choice in South Korea since the Initial Coin Offering (ICO) era in 2017. The country is now considered one of its most important markets overall.
Catching up with Ethereum in the ETF game
While the retail market for XRP is still poised to ramp up buying of the coin, Ethereum remains the favorite in institutional adoption. However, that tide is about to change with the potential launch of XRP ETF product this year.
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Companies like Bitwise and WisdomTree are pushing for the product due to optimism that the new SEC leadership is pro-crypto. If granted, the XRP ETF would represent a new way for investors to gain regulated exposure to the currency.
with Stablecoin RLUSD Poised to complement XRP in Ripple Labs' payment ecosystem, the odds of overtaking major competitors like Ethereum remain high.
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