XRP Rebounds to $1.18 as Upbit Dominance Hits Two-Year High
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XRP climbed from $1.11 to $1.18 this week as exchange wallet flows rotated away from Coinbase, Binance and Crypto.com toward Upbit, with Upbit's net wallet flow dominance spiking from 13% on June 7 to 31% on June 14, its highest since May 2024. The CEX flow shift signals Korean retail-driven demand supporting the crypto price recovery and potential adoption tailwinds for XRP, even as Western exchange outflows create regional concentration risk.
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- Upbit XRP wallet flow dominance surged from 13% to 31%, hitting its highest level since May 2024.
- Coinbase XRP dominance collapsed from 27% to 0% as Binance and Crypto.com also declined sharply.
- Flow rotation toward Upbit suggests Korean retail demand is driving the XRP price recovery.
XRP climbed from $1.11 to $1.18 this week, but the more compelling story is what happened in exchange wallet flows while that move was developing. CryptoQuant analyst Amr Taha pointed out a rotation in XRP deposit wallet activity that preceded and accompanied the price rebound, with Upbit emerging as the dominant exchange in the flow structure while Coinbase, Binance, and Crypto.com moved in the opposite direction simultaneously.
The Upbit Signal
Upbit’s XRP Net Wallet Flow Dominance surged from 13% on June 7 to 31% on June 14, its highest reading since May 2024. The spike shows t…
Read The Full Article XRP Rebounds to $1.18 as Upbit Dominance Hits Two-Year High On Coin Edition.
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