XRP's Bullish Pattern on Upbit Sparks Hope for Potential Rally

XRP's price has been experiencing a downturn, but on-chain data indicates that it is repeating a bullish pattern similar to one that preceded a significant price rally in November 2024. According to CryptoQuant data, exchange withdrawal transactions involving XRP have spiked on South Korea's Upbit, with levels consistently above 3,400 since mid-December 2025.

This spike in withdrawal transactions is notable, as the average number of daily XRP withdrawal transactions on Upbit typically ranges between 5 and 20. The recent figures represent a significant increase from the everyday average, indicating that investors may be taking off their XRP tokens from the platform at an increasing rate.

The historical data shows that this pattern played out between 2021 and 2023 before XRP recorded its explosive November 2024 rally. During that period, XRP withdrawal transactions on Upbit spiked to around 500, which is lower than the current levels but still significant. It is worth noting that after these spikes stopped, XRP started seeing an improvement in price action, culminating in the November 2024 rally.