Why XRP Price Defies Gravity Despite Surging Korean Whale Activity

Korean capital floods in—yet XRP's chart flatlines. What gives?

Market Mechanics vs. Momentum

While Seoul's crypto whales dump millions into XRP, the token's price refuses to budge. Classic supply-demand theory? Not today. Either the buys get absorbed like a sponge, or traders are playing 4D chess with OTC deals.

Regulatory Ghosts in the Machine

The SEC lawsuit hangover still looms—institutional money stays parked on the sidelines despite the Korean retail frenzy. Funny how 'decentralized' assets still tremble at bureaucrats' whispers.

Liquidity Black Hole

With Ripple's escrow locks periodically unleashing 1B XRP into circulation, those Korean inflows might just be keeping the ship afloat instead of sending it soaring. Another day in crypto—where 'bullish news' often means 'not crashing today.'

Upbit Leads in XRP Volume and FlowsUpbit Leads in XRP Volume and Flows Why XRP is Not Reflecting This Trend However, XRP's price appears not to be reflecting this trend of growing volume and netflows. In his most recent update, Steingraber revealed what he believes could be the reason behind XRP's slow growth when compared to the pace at which it is observing inflows on Upbit. Specifically, while South Korean investors on Upbit are contributing to inflows, the rest of the global market is neutralizing the impact of these inflows by recording higher outflows.  For context, Binance, Coinbase, Bybit, and other top destinations for XRP trading have continued to witness outflows over the past few days. At the time of Steingraber's disclosure, overall netflows globally amounted to -$8.82 million.  According to the latest data from Coinglass, the market witnessed a mild positive netflow of $3.2 million yesterday, as Upbit's inflows narrowly edged out the outflows from other exchanges. Interestingly, this was not the case on July 7 and 8, when the market respectively saw -$43.19 million and -$8.68 million in netflows despite Upbit's large inflows.

XRP Netflows CoinglassXRP Netflows | Coinglass Steingraber believes these negative netflows triggered by other top trading destinations are the reason XRP's price has lagged. Notably, XRP has still observed an impressive price increase this week, up over 6% in the past seven days, as it trades for $2.33. However, some believe its price should have spiked higher than this. Meanwhile, it is important to note that despite the bullish sentiments, the Upbit inflows do not automatically translate to capital flows into the XRP market, as they merely represent deposits to the exchange. As a result, they will not always lead to price spikes.