XRP Reserves Plummet on Binance, Upbit and Coinbase as Whale Outflows Surge

On‑chain data shows XRP holdings on the two largest venues, Binance and South Korea's Upbit, fell sharply in early July. Binance's reserve dropped from about 2.78 billion XRP on May 12 to roughly 2.61 billion – a six‑percent fall and the lowest level since March. Upbit’s balance slipped from around 6.515 billion XRP at the end of May to about 6.457 billion by July 2, a reduction of roughly 58 million tokens. The combined outflow of roughly 228 million XRP marks a multi‑month low for the token’s exchange liquidity.

At the same time, whale‑sized withdrawals on Coinbase surged. According to CryptoQuant, transfers above 1 million XRP made up about 10 % of Coinbase’s outflow value on June 16 but rose to 25.7 % by July 1. Binance’s large‑withdrawal share remained stable near 50 % of its total outflow. XRP price hovered near $1.04‑$1.09 during the period. Analysts note that thinner exchange reserves can tighten sell‑side pressure, while the growing share of massive transfers may signal accumulation or repositioning by large holders. Ripple’s CTO also discussed technical proposals to curb front‑running on the XRP Ledger, underscoring ongoing network‑level concerns.