TLDR
- XRP reserves across Upbit, Binance, and Bithumb fell by about 240 million tokens since late May and early June.
- Combined XRP holdings on the three exchanges dropped from roughly 11.08 billion to 10.84 billion tokens.
- Upbit recorded the largest withdrawal volume, with about 110 million XRP leaving the exchange.
- Coinbase posted a seven-day net wallet count of minus 14,300, showing strong withdrawal activity.
- XRP briefly fell below $1 to around $0.97 before recovering to about $1.11 on Thursday.
XRP trades near $1 as exchange reserves fall across major platforms. The token recovered to $1.11 on Thursday after slipping below $1 this week. CryptoQuant data shows investors removed 240 million XRP from Upbit, Binance, and Bithumb since May and early June.
XRP Reserves Drop Across Three Major Exchanges
Upbit held 6.40 billion XRP on August 19, down from 6.51 billion on May 30. That marks a decline of 110 million tokens, or 1.7%. Upbit holds the largest XRP balance among the three exchanges.
Bithumb’s XRP reserves fell to 1.82 billion from 1.85 billion on June 2. Binance recorded a percentage decline, with reserves dropping to 2.62 billion from 2.72 billion. Combined reserves fell from 11.08 billion XRP to 10.84 billion.
CryptoQuant data shows a move toward withdrawals. Coinbase recorded a seven-day net wallet count of minus 14,300 as of August 18. The exchange represented 47.3% of the absolute imbalance, its highest share since July 2024.
Binance posted a net wallet count of minus 3,270, while Crypto.com recorded minus 2,680. Both exchanges moved into negative territory in July. Upbit’s share of the imbalance fell to about 12% from 40% in June.
XRP Price Rebounds After Falling Below $1
XRP price dropped to about $0.97 this week before recovering above $1.10. The token had lost nearly 10% over the past month, despite gains across parts of the crypto market.
The decline followed a fall from XRP’s high near $3.65. Traders continued moving tokens away from exchanges. Lower exchange balances can reflect transfers to private wallets, but the data does not show why each holder moved funds.
XRP now faces a mixed market picture. Exchange balances are lower, while price performance remains weak compared with stronger assets. The reserve data shows less XRP sitting on major trading platforms as the token struggles to build a recovery.
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