XRP Whales Flock to Upbit as Over 720M Tokens Exit Exchanges

XRP whales have been making large withdrawals from crypto exchanges, with over 720 million tokens leaving since June 3. According to CryptoQuant data, this is the most sustained activity from whale-sized wallets since early February. Binance whales led the outflows, with 425 million XRP withdrawn.

The concentration of XRP wallet activity on Upbit has also grown, with Amr Taha noting that Upbit's XRP net wallet flow dominance climbed to 31% on June 14, its highest level since May 2024. This shift coincided with a 5% rebound in XRP's price to $1.30 on Monday.

The Binance Whale vs. Retail Spread metric shows that whales still account for the majority of XRP outflows on the platform, with a spread of near 90%. While this indicator is not a direct bullish or bearish signal, it tracks withdrawal behavior rather than exchange selling activity.