XRP Exchange Balances Crash to Multi-Month Lows Amid ETF Demand Stall

The XRP token has seen a significant decline in exchange balances across major centralized exchanges. According to data from CryptoQuant, Upbit's holdings of XRP have dropped to around 6.43 billion tokens, the lowest level since May. Binance's balance is approximately 200 million XRP below its March peak.

The tightening liquid supply comes as the price chart shows a technical breakdown and spot ETF inflows stall. The Relative Strength Index (RSI) for XRP hovers around 44, suggesting fading momentum rather than an oversold bounce.

CryptoQuant analyst Amr Taha noted that while Upbit's balance dropped about 85 million XRP, or 1.3%, from a May 30 peak of 6.515 billion tokens, Binance's reserves sat at roughly 2.60 billion XRP, down 200 million tokens, or 7.1%, from a March 17 high of 2.80 billion.

Market analyst Xaif Crypto pointed out that a similar on-chain setup preceded XRP's rally in October 2025, when falling exchange balances and easing selling pressure coincided with a sharp price advance.