XRP Reserve on Upbit Collapses to 2-Month Low Amid Selling Pressure

The XRP reserve on Upbit has hit a 2-month low of around 6.43 billion units, according to recent data.

This decline marks a drop of about 1.3% from its peak in May and comes amid persistent selling pressure that has pushed the token's price down by nearly 70% from its previous high.

While Upbit still holds more XRP than other exchanges, including Binance, which saw a drop in its holdings as well, Bithumb's reserve has actually increased to near May levels.

The data shows that the amount of XRP held on exchanges has decreased, but it does not indicate where the tokens have gone. Sellers appear to be regaining control of the price, with momentum indicators showing weakening buying strength and a possible decline towards $1.05 or even the $0.8-$0.9 range.