XRP markets are efficient in price, but the depth behind that price varies widely between stablecoin and fiat rails.
Tight price parity hides structural gaps in XRP liquidity on exchanges
Despite near-perfect return correlations, XRP trading volume remains sharply divided between Binance’s USDT and Coinbase’s USD pairs.
4 min read
Updated: Aug. 6, 2025 at 3:02 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
XRP markets are efficient in price, but the depth behind that price varies widely between stablecoin and fiat rails.
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Tether
$0.99963
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
Binance
Binance is one of the world’s largest centralized cryptocurrency exchanges by trading volume, offering spot, derivatives, and earning products to a global retail and institutional user base.
Coinbase
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
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