Upbit Takes Lead in XRP Exchange Flows as Whales Pull 720 M Tokens

In mid‑June, the South Korean exchange Upbit saw its share of XRP deposit‑wallet flow jump from 13 % to 31 %, the highest level since May 2024. At the same time, Coinbase’s XRP flow fell to 0 % and Binance’s XRP reserves slipped to a four‑month low of about 2.69 billion XRP.

During the same period, more than 720 million XRP left exchanges, with Binance whales accounting for roughly 425 million of those tokens. The whale‑vs‑retail spread on Binance stayed near 90 %, indicating that large holders dominate outflows. XRP’s price rebounded to around $1.18‑$1.30 as the flow structure tightened around Upbit.

Analyst Amr Taha (Twitter @cryptohisenberg) highlighted the rapid concentration of activity on Upbit, while CryptoQuant data showed continued large‑withdrawal activity of over 1 million XRP per transaction.