A recent analysis of cryptocurrency exchanges has shown significant variation in the volume of XRP held in their wallets. The South Korean exchange Upbit stands out notably.
Leaders in XRP Holdings
According to a X account analyzing Ripple data, the largest XRP reserves are held at Upbit, with a total of 6.038 billion XRP. Meanwhile, Binance stands in second place with 2.735 billion XRP, and Coinbase holds fifth place with 780.13 million XRP.
Major XRP Transfers from Coinbase
Recently, Whale Alert detected two large XRP transfers to Coinbase. Both transfers involved amounts of 50,527,326 XRP and 50,520,869 XRP, totaling approximately $230.8 million. Analysts suspect one of the transfers was an internal transaction within Coinbase.
Positions of Other Exchanges
In addition to Upbit, Binance, and Coinbase, other major exchanges with significant XRP holdings include Bithumb with 1.635 billion, Uphold with 1.907 billion, and Bitbank with 588.37 million XRP, among others.
The data reveals that South Korean exchange Upbit significantly outperforms its competitors in terms of XRP holdings, which may indicate high user interest in this platform.
