XRP Exchange Reserves Sink As Binance And Upbit Bleed 228 Million Tokens

XRP exchange reserves fall to multi-month lows on Binance and Upbit, as 228 million tokens leave in weeks while whale activity shifts on Coinbase too.

Binance’s XRP exchange reserves sat at roughly 2.78 billion tokens back on May 12. By July 2 that figure had slipped to 2.61 billion. CryptoQuant data pegs the move at more than 6%. The exchange hasn’t held this little XRP since March.

Around 170 million tokens made that exit. Nobody on the CryptoQuant side is claiming a single, tidy cause for it. Withdrawals of this size usually get read as custody moves, though the raw numbers themselves stay quiet on intent.

Upbit Tells A Bigger, Slower Story

Upbit carries the largest tracked XRP reserve of any exchange on the chart, which is why its number moves less on a percentage basis. Still, the South Korean platform slid from about 6.515 billion XRP on May 30 to 6.457 billion by July 2. That’s the lowest Upbit balance since April.

Fifty eight million XRP isn’t a huge slice of Upbit’s total pile. It’s still real supply leaving a real order book, and combined with Binance, the two exchanges have shed close to 228 million XRP over the recent stretch.

Source: CryptoQuant, chart by Amr Taha (cryptohisenberg)

Bithumb Isn’t Playing Along

Not every Korean exchange moved the same direction. Bithumb’s reserve held close to 1.84 billion XRP through the same window, barely budging. That split matters, since it means the withdrawal pattern is concentrated rather than a market wide exit.

Some of this rhymes with what livebitcoinnews reported this week on whale-sized XRP leaving Coinbase, where transfers above one million tokens jumped from roughly 10% of outflow value on June 16 to 25.7% by July 1, even as Binance’s own whale share barely moved. Different exchange. Similar shape.

Reserves Down, Price Still Undecided

Lower reserves get read as bullish more often than not, tokens moving into private wallets instead of sitting ready to sell. That read isn’t guaranteed here. CryptoQuant’s own note on the data says reserve declines alone don’t confirm accumulation or promise a higher price, and demand still has to show up for any of it to matter.

XRP’s monthly RSI, separately, has dropped to its most oversold reading on record, per a chart shared by EGRAG CRYPTO on X on July 1. Flattening now, apparently. Whether that lines up with the reserve drain or just happens alongside it is anyone’s guess right now.

The post XRP Exchange Reserves Sink As Binance And Upbit Bleed 228 Million Tokens appeared first on Live Bitcoin News.