XRP reserves on major exchanges continued to decline. CryptoQuant data show a combined reduction of approximately 240 million XRPs on Binance, Upbit and Bithumb since late May and early June, reflecting a shrinking supply available on the trading platform.
The total number of exchanges fell to 10.84 billion
At present, the combined reserves of the three platforms are approximately 10.84 billion, a 2.2 per cent decrease from the previous ones. Of these, the decrease was most marked in Binance, where reserves decreased by 3.7 per cent to about 2.62 billion.
Upbit remains the largest holder
Upbit still holds approximately 6.4 billion XRPs on the tracked exchange. Together, Upbit and Bithumb hold approximately 76 per cent of the related reserves, indicating that the Korean trading platform remains the main concentration for this portion of XRP liquidity.
Reduced supply is not equal to higher prices
Declines in exchange balances usually mean a reduction in supply that can be traded immediately. This, however, does not directly support an increase in the number of purchases, nor can it be assumed, in isolation, that the subsequent price will be higher.