A subtle but closely watched shift is emerging in the XRP market, drawing renewed attention from traders and on-chain analysts. Reserve movements on exchanges, especially from South Korea, have historically been an early indicator of changing market dynamics.
Once again, XRP watchers are focusing on activity from Upbit, the country’s largest crypto exchange, as fresh data suggests a notable change is underway.
Early Signals From On-Chain Data
Crypto analyst Xaif first highlighted the development on X, noting that XRP reserves on Upbit have begun to decline. While this observation alone does not determine price direction, it carries weight due to historical context.
💥💥BREAKING;
Upbit's XRP reserve decrease are beginning.🤯🤯
The $XRP reserve on the South Korea exchange Upbit have begun to decline.
When $XRP outflowed from Upbit in November 2024, $XRP rose from $0.50 to $3.29.
And now, $XRP flow out of Upbit has begun again. pic.twitter.com/k0db6Rir9f
— Xaif Crypto🇮🇳|🇺🇸 (@Xaif_Crypto) January 7, 2026
Exchange reserve reductions often indicate that holders are moving assets off trading platforms, which can reduce immediate sell-side liquidity and reflect growing conviction among investors.
Importantly, Xaif’s observation aligns with verified on-chain metrics showing a measurable decrease in XRP balances held by Upbit wallets. These movements mark a clear shift from recent periods of relatively stable exchange reserves.
A Look Back at the November 2024 Precedent
The renewed attention around Upbit stems from what followed a similar trend in November 2024. At that time, XRP began flowing out of the exchange in size, and the asset subsequently rallied from roughly $0.50 to a peak near $3.29 over the following months.
While correlation does not guarantee repetition, the similarity in reserve behavior has naturally reignited market interest.
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That prior rally also coincided with improving regulatory clarity and rising global crypto momentum, reminding investors that exchange flows tend to act as supporting indicators rather than standalone catalysts.
Broader Exchange Trends Add Context
Beyond Upbit, recent data suggests that XRP exchange reserves across multiple platforms have shown signs of contraction. Analysts generally interpret this as a shift toward self-custody or long-term holding strategies. When fewer tokens sit on exchanges, available supply for immediate trading narrows, which can amplify price movements if demand increases.
However, not all indicators currently point in the same direction. Some institutional-focused products, including XRP-related investment vehicles, have recorded mixed flows in recent weeks. This contrast suggests that while retail or regional holders may be accumulating, broader market participation remains selective.
What This Means for XRP Going Forward
The renewed XRP outflow from Upbit reinforces a familiar narrative: supply dynamics are tightening on key exchanges. Historically, such conditions have supported bullish price structures, but outcomes depend heavily on market sentiment, volume, and macro trends.
For now, the data confirms one thing with certainty—XRP holders are once again moving coins off Upbit in noticeable amounts. Whether this development evolves into a larger market move will depend on how demand responds in the weeks ahead.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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