XRP reserves are moving in different directions across major cryptocurrency exchanges, as Binance sees higher withdrawals while Korean platforms record deposits.
This trend is playing out at a time when XRP trades at $1.37 amid recent struggles, with reserve data showing a growing gap between Binance and the Korean exchanges Upbit and Bithumb.
For context, between Sept. 27 and Oct. 13, Binance’s XRP reserves fell by 101 million tokens. Over a similar period, Upbit and Bithumb added approximately 90 million XRP to their combined reserves, with their holdings rising between Sept. 23 and Oct. 13.
XRP Withdrawals Rise Across Global Exchanges
This pattern is the result of increased withdrawals witnessed by Binance during the period in question. According to the Daily Deposit/Withdrawal Transactions indicator, between Aug. 26 and Oct. 12, Binance’s withdrawal transaction share rose from 52% to 54%.
Across all centralized exchanges, the figure increased from 51% to 52.7%. Both readings show that withdrawals became a larger part of XRP transaction activity within global exchanges.
In addition to this, deposit activity declined. Binance’s deposit transaction share dropped from 47.7% to 45.9%, while the share across all centralized exchanges fell from 48% to approximately 47%. As a result, withdrawals now account for a larger share of transactions than deposits in both cases.
However, these figures show the number of transactions, not the amount of XRP involved. While they show a change in transaction activity, they do not confirm that withdrawals exceed deposits in terms of the total number of tokens transferred.
Binance Loses 101 Million XRP as Korean Holdings Increase
The Multi-Exchange Daily Reserve indicator shows how global and Korean exchanges have moved in opposite directions. Binance’s XRP reserves fell from 2.705 billion tokens on Sept. 27 to 2.604 billion on Oct. 13. This represents a loss of 101 million XRP over 16 days.
Meanwhile, Upbit and Bithumb increased their reserves between Sept. 23 and Oct. 13. Upbit’s holdings grew from 6.39 billion XRP to 6.45 billion, adding 60 million tokens. Bithumb’s reserves also rose from roughly 1.81 billion to 1.84 billion XRP, an increase of about 30 million tokens.
Together, the two South Korean exchanges added approximately 90 million XRP during the period. In addition, Upbit and Bithumb now account for approximately 76% of the monitored XRP reserves across these three exchanges.
What the Reserve Shift Means for XRP
The latest figures point to two developments across the XRP market. The data does not prove that XRP leaving Binance has moved directly to South Korea. Some users may have transferred their tokens to private wallets for long-term storage, while other movements may come from trading activity or transfers between exchanges.
Exchange reserves also do not reveal why holders move their tokens or what they intend to do with them. A falling balance does not necessarily mean that investors are selling, just as rising reserves do not automatically indicate long-term accumulation.