Ripple’s XRP token rebounded from $1.11 to $1.18, supported by shifting exchange wallet flows. Data shows South Korean exchange Upbit surged to become the dominant platform for XRP deposit activity, hitting a high not seen since May 2024. Meanwhile, major exchanges like Coinbase and Binance saw their dominance decline. Separate data indicates XRP-focused investment funds attracted inflows of nearly $10.7 million last week, contrasting with outflows from Bitcoin and Ethereum ETFs.
Ripple’s XRP price recovered from $1.11 to $1.18 recently. This movement coincided with a notable rotation in exchange wallet activity according to on-chain data.
Upbit emerged as the leading exchange for XRP deposit-wallet activity. Its net flow dominance surged from 13% to 31% over one week, reaching its highest level since May 2024.
This contrasted sharply with trends at other major platforms. Coinbase saw its dominance fall from 27% to 0% over a similar period, while Binance and Crypto.com also declined.
Analysts noted the divided flow structure driving the rebound. “The takeaway is that XRP’s rebound is being driven by a divided flow structure,” stated the analytics firm.
One analyst had earlier identified key price levels. They noted $1.193 as a primary resistance with $1.09 acting as major support.
Institutional flows for XRP also showed resilience last week. Spot XRP ETFs attracted inflows of nearly $10.7 million according to fund flow data.
This occurred while U.S. spot Bitcoin ETFs experienced heavy outflows totaling $314.8 million. Ethereum ETFs also recorded outflows of nearly $14.91 million.
