XRP Reserve on Upbit Collapses to 2-Month Low of 6.4B – Bullish Signal for Supply Squeeze?

In a dramatic shift signaling growing demand on South Korea's largest exchange, the XRP reserve on Upbit has plunged to a two-month low of 6.4 billion tokens. This sharp drawdown, representing a 10% correction in exchange-held supply since early July 2026, suggests investors are aggressively moving XRP into self-custody or external wallets, a classic precursor to a supply squeeze. Crypto analysts are now eyeing this depletion as a bullish catalyst, with historical patterns indicating that such low reserve levels on Upbit have often preceded major price rallies for XRP. As the Financial Services Authority (FSA) continues to monitor market stability, this reserve collapse underscores the intensifying spot demand for XRP among Korean traders.

The XRP exchange reserve on Upbit, Korea's largest crypto trading platform, has declined to a new 2-month low amid consistent withdrawals. Notably, XRP remains under selling pressure as the broader market downturn pushes the token to $1.08, leaving it down 70% from its previous peak.

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