Cryptocurrency analytics company CryptoQuant has reported a notable divergence in XRP reserves across major exchanges. According to the data, Upbit’s XRP reserves have fallen to their lowest level since May, while Binance’s reserves remain approximately 200 million XRP below the peak recorded in March.
The amount of XRP held on Upbit has fallen to approximately 6.43 billion XRP, reaching its lowest level since May. The exchange’s reserves peaked at approximately 6.515 billion XRP on May 30th. Accordingly, Upbit’s XRP balance has decreased by approximately 85 million XRP, or 1.3 percent, since that peak.
Upbit’s XRP reserves remain at a high level compared to other major exchanges examined. According to current data, Upbit holds approximately 2.47 times the amount of XRP held on Binance.
Binance’s XRP reserves stood at approximately 2.60 billion XRP as of July 24. This amount is 200 million XRP, or about 7.1 percent, below the 2026 peak of approximately 2.80 billion XRP recorded on March 17.
Bithumb’s XRP reserve was also measured at approximately 1.83 billion XRP. This level is close to the reserve amount recorded by the exchange on May 30th. Thus, a significant divergence emerged among the three exchanges. While Upbit’s reserve fell to its lowest level in several months, Binance remained below its March peak, and Bithumb returned to its levels at the end of May.
CryptoQuant stated that, given Upbit and Bithumb’s relatively high XRP holdings among the exchanges examined, changes in reserves on these platforms offer important indicators for evaluating XRP’s exchange-sourced liquidity structure.
However, the company noted that the decrease in reserves does not necessarily mean that XRP is being withdrawn from personal wallets.
*This is not investment advice.
