$12B+ XRP Exodus in 24 Hours: Exchange Outflow Myth or Market Shakeup?

Headline-grabbing numbers sparked panic—until the real story emerged.

When $12 billion worth of XRP reportedly fled exchanges in a single day, crypto Twitter erupted. 'Mass exodus!' screamed the permabulls. 'Institutional dump!' cried the bears. Both missed the fine print.

The truth? A whale playing ledger hopscotch.

Blockchain sleuths traced the movement to internal transfers between cold wallets—not a sell-off. Market makers shuffled reserves like blackjack dealers cutting decks. Price barely flinched.

Lesson learned: In crypto, follow the coins—not the clickbait. (Though if you're an exchange charging 0.5% fees on phantom liquidity, maybe keep quiet.)

XRP Ledger Exchange Reserve BinanceXRP Ledger Exchange Reserve Binance Moreover, the previous data suggesting that Upbit's XRP reserves had collapsed to 1.08 billion XRP was way off. Specifically, Upbit's reserves still contain 6.08 billion XRP as of press time, representing the largest XRP exchange balance globally. In fact, Upbit has witnessed XRP inflows since June 18, as opposed to the earlier data.

XRP Ledger Exchange Reserve UpbitXRP Ledger Exchange Reserve Upbit Bybit and Bitfinex Data Remains Unchanged Meanwhile, for Bybit, its XRP exchange reserve chart still indicates a massive drop since June 15. Notably, according to data from CryptoQuant, Bybit held 326.75 million XRP on June 15. However, current data suggests the exchange now has 230.5 million XRP, suggesting that it has witnessed the withdrawal of over 96 million XRP over the past two weeks.

XRP Ledger Exchange Reserve BybitXRP Ledger Exchange Reserve Bybit In addition, the Bitfinex XRP reserve chart also indicates a large drop in the exchange's XRP balance. Bitfinex now holds 58.55 million XRP, representing outflows of 4.117 million XRP. It is unclear if these figures reflect the current reality of whether CryptoQuant has failed to correct the glitch on the Bybit and Bitfinex charts.

XRP Ledger Exchange Reserve BitfinexXRP Ledger Exchange Reserve Bitfinex