XRP Exchange Reserves Plummet by 240M Amid Decline in Supply
XRP exchange reserves have seen a significant decline over the past few weeks. According to CryptoQuant data, the combined XRP reserves on Binance, Upbit, and Bithumb have fallen by approximately 240 million XRP since late May and early June.
The total reserves now stand at around 10.84 billion XRP, representing a decrease of 2.2%. Among these exchanges, Binance witnessed the largest drop in its XRP reserves, with a decline of 3.7% to approximately 2.62 billion XRP.
Upbit remains the largest holder of XRP, with around 6.4 billion XRP stored on the platform. When combined, Upbit and Bithumb account for about 76% of the tracked reserves.
It's essential to note that lower exchange balances can decrease the available supply but do not confirm buying or future price gains by themselves.