Global cryptocurrency exchange OKX's XRP balance has risen 33 percent this year to 244.5 million tokens, blockchain outlet Decrypt reported on Sept. 30.

OKX recently released its 47th monthly proof-of-reserves report and disclosed its XRP holdings and customer deposits as of Sept. 8.

The report focuses on expanding XRP holdings while maintaining the reserve ratio. OKX currently holds 244.5 million XRP, worth more than $366 million. That represents 0.359 percent of the total circulating supply of 68.126 billion tokens.

By custody structure, 238.3 million XRP is held in the exchange's internal wallets and 6.19 million XRP is held on a third-party custodial platform. Customers held 227.095 million XRP on the OKX platform. That put OKX's XRP reserve ratio at 108 percent. It means OKX holds more XRP than customer balances.

The pace of growth was also confirmed. Customer XRP balances rose by 13.4 million tokens from a month earlier. In the 46th report dated Aug. 11, customers held about 213.5 million XRP and OKX's XRP balance stood at 230.496 million. Compared with the start of the year, customer holdings increased by 61.4 million tokens. In the first proof-of-reserves report this year dated Jan. 17, customer XRP balances were 165.591 million.

The exchange's own XRP balance moved in the same direction. The current 244.5 million tokens is up 33 percent from 183 million at the start of the year. At the time, OKX held 167.922 million XRP on the exchange and stored 15.134 million on a third-party custody solution, with a reserve ratio of 111 percent against customer balances.

OKX said it also backs customer balances at a one-to-one ratio or higher for assets other than XRP. Based on major assets, customer bitcoin holdings were 139,865 BTC, worth about $11.88 billion. OKX's bitcoin balance was 153,151 BTC worth $13.0 billion, of which 146,359 BTC was stored on the exchange. The reserve ratio was 109 percent.

For ether, customer holdings were 1,785,866 ETH, worth about $5.162 billion. OKX held 1,796,024 ETH, posting a reserve ratio of 101 percent. For solana, customer holdings were 7,411,794 SOL worth $882 million, while OKX's exchange balance was $923 million, showing a ratio of 105 percent.

Proof-of-reserves is a process to verify whether an exchange holds sufficient customer assets. In this report, OKX said it backs customer balances at a one-to-one ratio or higher for each cryptocurrency, and put the size of its major asset holdings at about $27.4 billion. Such disclosures have continued to expand in line with transparency standards effectively demanded of cryptocurrency exchanges since the collapse of FTX in November 2022.

What stands out in these figures is that both customer XRP balances and the exchange's holdings rose at the same time. Customer holdings increased over the past month, while the exchange's balance expanded sharply from the start of the year. The market is expected to watch whether OKX's XRP demand and reserve management grew together and whether that trend continues in the next report.