XRP climbed back above $1.18 this week, recovering from a dip to $1.11, as trading activity migrated sharply toward South Korea's Upbit. On-chain data from CryptoQuant shows Upbit's XRP net wallet flow dominance more than doubled in the past week, hitting 31% on June 14 — its highest level since May 2024. The shift comes as Coinbase's share of XRP flows evaporated, dropping to 0% from 27% a month earlier.
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Upbit's growing share
According to CryptoQuant, the rebound in XRP's price is being driven by a divided flow structure. Activity is rotating toward Upbit, which now accounts for nearly a third of all XRP net wallet flows among major exchanges. That's up from 13% on June 7. The concentration suggests that retail-heavy Korean demand is playing an outsized role in the move higher.
Exchange landscape shifts
The numbers elsewhere tell a different story. Coinbase's XRP net wallet flow dominance went from 27% on May 7 to zero by June 14 — effectively meaning the U.S. exchange saw no net inflows of XRP from its users during that period. Binance's share slipped from 16% to 13%, and Crypto.com's dropped from 9% to 3%. The trend points to a narrowing of liquidity channels for XRP, with Upbit absorbing the lion's share of fresh flows.
Technical picture
Crypto analyst Egrag Crypto said bulls remain in control as long as XRP holds above the $1.134–$1.14 zone. First resistance sits at $1.193, with support at $1.09. The current price of $1.18 sits just below that resistance level, meaning the next few trading sessions could decide whether the rally has legs.
ETF inflows buck the trend
Spot XRP ETFs pulled in about $10.7 million over the past week — a small but notable positive in a week of broad crypto ETF outflows. Spot Bitcoin ETFs in the U.S. saw $314.8 million exit, while Ethereum ETFs lost $14.91 million. That divergence suggests some institutional allocators are treating XRP as a relative safe haven, or at least as a hedge against the larger-cap coins' weakness.
The question now is whether Upbit-driven momentum can push XRP through $1.193 resistance. If it does, the next target becomes the psychology of $1.30. If not, the $1.09 support zone will be the first line of defense for bulls.
