Compass Investments

– New trends are emerging regarding Ripple (XRP) on South Korean exchanges, according to a study conducted by CryptoQuant.

The Republic of Korea remains one of the key testing grounds for XRP globally, with Upbit ranking among the top platforms in terms of both XRP transaction volume and number of holders.

Fresh on-net metrics suggest that market behavior on Upbit is changing.

CryptoQuant analytics show an increase in XRP withdrawals from Upbit for the first time since 2023. This signals a marked turnaround from the long period of moderate outflows that followed last year’s events.

The chronology of events is quite important. XRP experienced a temporary decline in value, but now the withdrawals are not just stabilizing, but gaining momentum. This hints that some owners prefer to withdraw XRP from the exchange rather than realize it at the current weakness.

According to the chart below, the withdrawal of XRP from Upbit is picking up even as the pressure on the price remains. In the past, such maneuvers were often observed when bidders started regrouping after a price correction, rather than leaving it completely.

Although the overall activity is still dominated by small withdrawals, CryptoQuant emphasizes the formation of a new pattern that could indicate a potential shift in attitudes towards XRP on South Korean trading floors.

South Korea has long set the tone for XRP movement. The resumption of steady withdrawals after a pause of more than a year suggests that activity among holders is reactivating, albeit at an early stage of the trend.

At this point, the information does not reflect massive, aggressive withdrawals. However, the restart of outflows is a significant indicator, especially after the recent price drop.

data is based solely on CryptoQuant’s expertise and visualization of withdrawals from Upbit