XRP Reserve on Upbit Hits Two-Month Low Amid Ongoing Selling Pressure

The XRP exchange reserve on Upbit, Korea's largest crypto trading platform, has reached its lowest level since May. According to data from CryptoQuant, Upbit now holds approximately 6.43 billion XRP, down from a recent high of roughly 6.515 billion XRP on May 30.

This decline marks a decrease of around 85 million XRP and represents a drop of about 1.3% from the peak. Despite this fall, Upbit still holds significantly more XRP than other exchanges included in the data, with its current holdings being roughly 2.47 times that of Binance.

Binance has also seen a decline in its XRP reserve, dropping to around 2.60 billion XRP from its March high of approximately 2.80 billion XRP. In contrast, Bithumb's XRP reserve has increased to almost the level it recorded on May 30, standing at approximately 1.83 billion XRP.

The drop in exchange reserves does not necessarily indicate where the tokens have gone, as it is unclear whether holders moved XRP into self-custody, transferred it to other exchanges, or shifted it through other market channels.