Traders Pull 240M XRP From Major Exchanges As Whales Step Up

XRP is having a tough time catching up to the rest of the market. The token is down nearly ten percent over the past month and is still struggling near the one dollar level while other assets post modest gains. Even so, data shows a steady trend of traders withdrawing their tokens from major platforms rather than depositing them to sell.

Fresh figures show that reserves across Binance, Upbit, and Bithumb dropped by roughly 240 million tokens between late spring and August 19. Binance saw the sharpest percentage drop with a decline of about 3.7 percent, while Upbit and Bithumb also recorded notable outflows. South Korean exchanges still hold the lion share of these tracked reserves, accounting for roughly seventy six percent of the total.

At the same time, large investors are showing renewed interest in the asset. Transactions worth more than one million dollars recently jumped by 280 percent in a single day, following a massive accumulation spree by wallets holding between ten million and one hundred million tokens. Network activity also saw a bump with nearly 50,000 active addresses in a single day, showing that on chain usage remains strong despite gloomy social sentiment hitting a three month low.

Traders should keep a close eye on exchange reserve trends and whale wallet movements in the coming days. If large holders keep accumulating while supply on trading platforms shrinks, it could set the stage for a stronger price move once overall market momentum shifts.