According to CryptoQuant analyst Amr Taha, XRP reserves across three major cryptocurrency exchanges have decreased by approximately 240 million XRP since late May and early June.
Despite this reduction, South Korean trading platforms continue to dominate the landscape, holding the vast majority of the tracked XRP supply. Upbit, in particular, maintains a highly prominent position.
Binance XRP Reserves Fall 3.7%
As of August 19, Upbit held around 6.40 billion XRP, down from 6.51 billion XRP on May 30. This represents a decrease of roughly 110 million XRP, or 1.7%.
Bithumb’s XRP reserves also experienced a slight decline, falling from 1.85 billion XRP on June 2 to approximately 1.82 billion XRP. This decrease amounts to around 30 million XRP, or 1.6%.
Meanwhile, Binance recorded the most significant percentage drop among the three platforms. Its XRP reserves fell from 2.72 billion XRP on June 2 to 2.62 billion XRP on August 19, representing a reduction of about 100 million XRP, or 3.7%.
Upbit and Bithumb Hold Nearly 76%
Combined XRP reserves across Upbit, Binance, and Bithumb currently stand at approximately 10.84 billion XRP, down from about 11.08 billion XRP in late May and early June.
This represents a decline of roughly 240 million XRP, or 2.2%.
Upbit remains the largest XRP holder among the three exchanges, with 6.40 billion XRP in reserves. Together, Upbit and Bithumb hold approximately 8.22 billion XRP, accounting for nearly 76% of the tracked XRP reserves across these three platforms.
What the Decline Means for XRP
The gradual reduction in exchange-held XRP reserves indicates a shift in the amount of XRP sitting on centralized trading platforms.
While this decline alone does not clarify whether investors are accumulating XRP or simply moving funds between venues and wallets, lower exchange balances reduce the immediately available supply on trading platforms.
The concentration of XRP reserves on South Korean exchanges is also notable, with Upbit and Bithumb continuing to represent the largest share of tracked exchange-held supply.
XRP Whales Are Back
Meanwhile, XRP whale activity has surged as the token trades approximately 73% below its July 2025 all-time high. According to Santiment data, XRP transactions worth more than $1 million jumped 280% this week, rising from 9.9 to over 38 transactions.
XRP is currently trading around $1, down 9.22% over the past month. The coin is down roughly 47% year-to-date, suggesting its steep decline from the $3.66 peak may be attracting large investors.
The combination of rising whale transactions and stronger network activity, despite the token’s weak price performance, could signal that large investors are accumulating XRP at lower prices.