XRP reserves across Upbit, Binance, and Bithumb have fallen by roughly 240 million tokens since late May, according to data tracked through August 19. The combined decline of about 2.2% comes as large wallets quietly add positions and social sentiment sours. Upbit remains the biggest holder, but the outflow is spread unevenly.
Where the tokens went
Upbit's reserves slipped from 6.51 billion on May 30 to 6.40 billion, a drop of about 110 million XRP. Bithumb followed with a smaller slide, from 1.85 billion on June 2 to 1.82 billion. Binance posted the sharpest percentage decline, shedding roughly 100 million XRP from 2.72 billion to 2.62 billion, a 3.7% cut. Together, the three exchanges now hold about 10.84 billion XRP, down from 11.08 billion.
Wallet-level data tells a similar story. Coinbase recorded a net outflow of 14,300 wallets over seven days as of August 18, its biggest share of the overall imbalance since July 2024. Binance and Crypto.com also flipped negative on July 18, with net wallet counts of -3,270 and -2,680, respectively.
Whale wallets add
While exchange reserves shrink, bigger holders are moving the other way. Wallets holding between 10 million and 100 million XRP accumulated about 72 million tokens in a single day. That same day, transactions worth more than $1 million on the XRP Ledger jumped 280% to nearly 40, up from about 10 on each of the prior two days. The ledger also saw almost 50,000 active addresses over a 24-hour stretch last week.
Sentiment and price
The accumulation hasn't lifted mood. Social sentiment around XRP fell to a three-month low, even as the token trades near $1, down almost 10% over the past month. The price drop and the quiet buildup suggest a market waiting for a clearer trigger. Whether the reserve drawdown continues into September is the open question, but the data so far points to holders moving XRP off exchanges rather than selling it.
