XRP Reserve on Upbit Plunges to 6.4B, a 2-Month Low — Is a Supply Squeeze Brewing?
In a stark warning to XRP traders, the exchange reserve on South Korea’s largest crypto platform, Upbit, has collapsed to a 2-month low of 6.4 billion tokens. This drastic drawdown signals mounting buy-side pressure and could spark a sharp 10% correction in spot prices as liquidity tightens, with the Financial Supervisory Service (FSA) monitoring the volatility closely. Market participants should brace for heightened price action as the reserve drain accelerates.
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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