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XRP Exodus from Upbit: Bearish Price vs. Bullish Custody Shift

XRP Exodus from Upbit: Bearish Price vs. Bullish Custody Shift

Author:
XRP News
Published:
2026-02-01 22:04:13
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In a striking divergence from typical market behavior, XRP withdrawals from South Korea's premier cryptocurrency exchange, Upbit, have surged to a record high of 3,200 unique addresses. This mass exodus of tokens from the centralized platform coincides with a period of significant price pressure for XRP, which has recently broken below the critical $1.80 support level amid a broader climate of market risk aversion. The phenomenon suggests a profound shift in investor strategy, where holders are prioritizing self-custody and long-term asset security over short-term price fluctuations. This movement of assets off-exchange is a classic indicator of a holding, or 'hodling,' mentality, often preceding periods of supply scarcity on trading venues. While the immediate technical picture for XRP appears bearish, with the price struggling to find a stable footing, the underlying on-chain behavior paints a more complex and potentially bullish narrative for the medium to long term. The record withdrawal volume indicates strong conviction among a substantial cohort of investors who are effectively removing liquid supply from the market, potentially setting the stage for a powerful supply squeeze when market sentiment eventually turns. As a professional in the digital asset space, this decoupling of price action from holder behavior is a critical signal. It underscores a maturation in the XRP ecosystem, where participants are looking beyond daily volatility and focusing on fundamental ownership and the asset's utility within the global payments landscape. This strategic shift to private wallets, despite adverse price conditions, reflects a deepening belief in XRP's Core value proposition and its future role in finance. The current price decline may present a strategic accumulation opportunity for those who align with this long-term vision, as the technical selling pressure is being met with significant organic demand for actual custody, not just speculative trading. The stage is being set for a potential revaluation once the broader market risk appetite returns and the reduced readily-tradable supply on major exchanges meets renewed buying interest.

XRP Withdrawals from Upbit Surge to Record High Amid Price Decline

XRP withdrawals from South Korea's Upbit exchange have reached an all-time high of 3,200 addresses, signaling a growing exodus of tokens from centralized platforms. The movement comes as XRP struggles to maintain key support levels, having fallen below $1.80 during broader market risk aversion.

Investors appear to be moving holdings into private custody despite the asset's bearish technical performance. This divergence between price action and withdrawal behavior suggests long-term holders may be positioning for future price appreciation rather than reacting to short-term volatility.

XRP Just Witnessed a Major Breach on the Daily Timeframe: What Comes Next?

XRP has confirmed a significant technical breakdown on the daily chart, validating earlier warnings from a prominent chartist. The asset dipped to nearly $1.70 on Friday, a level from which it has yet to recover.

The breach signals potential downside momentum, with traders closely watching for either a swift recovery or further declines. Market sentiment remains cautious as XRP struggles to regain lost ground.

XRP's Price Aspirations: From $0.25 Pipe Dream to $100 Speculation

Former Ripple CTO David Schwartz drew parallels between XRP's past and present price ambitions, noting that the notion of XRP reaching $0.25 once seemed as far-fetched as the current chatter about a $100 valuation. During a recent X discussion, Schwartz avoided outright dismissal of such a rally, leaving room for market speculation.

The remark underscores the crypto market's capacity for radical reevaluations. Where XRP was once dismissed as a fringe asset, its current price debates reflect broader shifts in investor sentiment and institutional acceptance.

Gold's Historic Rally Dwarfs XRP Market Cap as Precious Metals Soar

Gold's relentless surge to a record $5,600 this week has spotlighted a staggering divergence between traditional and digital assets. The precious metal's market capitalization now stands at $38.93 trillion—nearly 20 times the entire value of the XRP ecosystem.

This rally underscores a flight to tangible stores of value amid macroeconomic uncertainty. While cryptocurrencies like XRP grapple with regulatory headwinds, gold's institutional adoption continues unabated.

The contrast speaks volumes about risk appetites in current markets. 'When the tide turns, investors still swim to gold,' remarked one veteran trader, noting the metal's 15% year-to-date gain against crypto's volatility.

XRP at $10 Could Deliver Best First-Year ETF Performance Ever

A prominent XRP community figure suggests the cryptocurrency could achieve the most successful first-year ETF launch in history if it confirms a major price breakout. Chad Steingraber, an XRP advocate and professional game developer, claims XRP ETFs are quietly positioning for a historic run.

The potential for XRP to reach $10 WOULD not only mark a significant milestone for the asset but could also set a new benchmark for ETF performance in the crypto space. Market watchers are closely monitoring institutional interest as the narrative around XRP's regulatory clarity gains traction.

XRP Defies Market Trends at $1.70 as Analysts Watch for Breakout or Breakdown

XRP trades at $1.70, a level steeped in long-term cyclical significance rather than short-term volatility. Analyst Egrag Crypto notes the asset mirrors historical patterns, now approaching a decisive juncture where macro developments and trader psychology could dictate its next move.

The symmetrical structure of XRP’s past cycles suggests its most explosive gains arrive in secondary surges. The 2017 rally peaked at Fibonacci’s 2.618 extension, while the 2021 climb stalled at 1.618—a divergence attributed to external factors rather than inherent weakness. Current charts position XRP in a macro correction phase, typical after initial rallies.

Market watchers scrutinize whether this consolidation precedes another parabolic advance or a structural breakdown. The 21-month EMA, a historical support level, remains pivotal. As with prior cycles, the interplay of technicals and sentiment will determine if XRP replicates its legacy of delayed but dramatic upside.

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