$XRP Reserves Decline Amid Surge in Whale Activity

XRP exchange reserves have seen a decline of approximately 240 million XRP since late May and early June, according to data from CryptoQuant. Despite this reduction, South Korean exchanges continue to hold the majority of XRP reserves.

Upbit is maintaining its dominant position among XRP holders, holding around 6.4 billion XRP as of August 19. This represents a decline of roughly 110 million XRP, or 1.7%, from May 30.

Binance recorded the largest percentage decline among the three exchanges, with XRP reserves falling by about 3.7% to around 2.62 billion XRP as of August 19.

The concentration of XRP reserves on South Korean exchanges is notable, with Upbit and Bithumb holding nearly 76% of tracked exchange-held supply.