XRP reserves held by Upbit, Bithumb and Binance have fallen by about 240 million since late May to early June, according to an estimate.

Decrypt, a blockchain media outlet, reported on Aug. 19 that the XRP reserves at the three tracked exchanges now stand at about 10.84 billion, down 2.2 percent from about 11.08 billion in late May and early June.

The decline varied by exchange. Upbit cut holdings by 110 million to about 6.4 billion XRP on Aug. 19 from 6.51 billion on May 30, a 1.7 percent drop. Bithumb also fell by 30 million to about 1.82 billion XRP from 1.85 billion on June 2. Binance posted the biggest decline of the three, dropping 3.7 percent as it fell by 100 million to 2.62 billion XRP from 2.72 billion over the same period.

In absolute terms, Upbit's dominance remains large. It holds the most XRP among the three exchanges at 6.4 billion. Combined holdings at Upbit and Bithumb were about 8.22 billion XRP, accounting for about 76 percent of the tracked total. That means XRP liquidity continues to be concentrated on South Korean exchanges.

Amr Taha (아므르 타하), a contributor to CryptoQuant, pointed to the gradual decline in exchange-held XRP as leading to changes in the amount remaining on centralised trading platforms. He said the reserve drop alone does not determine whether investors are accumulating XRP or moving funds between exchanges and personal wallets. When exchange balances fall, the supply immediately available to sell on trading platforms also declines.

The market is seeing price weakness alongside a rise in whale transactions. Santiment data showed XRP trades above $1 million jumped 280 percent to more than 38 this week from 9.9. XRP is trading at around $1 and is down 9.22 percent over the past month. It has fallen about 47 percent since the start of the year.

The current price is about 73 percent below the all-time high recorded in July 2025. The rise in large transactions in this range is drawing more attention to moves by big investors. The outlet reported that, despite the weak price, strengthening network activity and increased whale trades could suggest possible accumulation in a low-price zone.

That narrows the key points to watch to two. One is whether XRP held on South Korean exchanges continues to decline. The other is whether increased whale trading leads to actual net outflows and more long-term holding. For now, a decline in exchange reserves has been confirmed, but more data are needed to determine where the funds moved.