The XRP price has been on an upward trend since June 15, breaking above the $1.13-$1.14 resistance area and pushing toward the next short-term resistance band around $1.20.
This move followed a sharp decline in June that left traders wondering if the rebound would be just another short-term blip or something more substantial.
CryptoQuant analyst Amr Taha pointed out that wallet flows have shifted towards Upbit during the rebound, with the exchange's XRP Net Wallet Flow Dominance rising from 13% on June 7 to 31% on June 14.
The split in exchange activity does not necessarily indicate which exchange controls the price but shows that the rebound has not come from a uniform market structure.
Crypto analyst Ali Charts noted that XRP remains inside a symmetrical triangle setup, with a breakout potentially triggering a 14% price move.