XRP Keeps Top Spot on Upbit Despite Weekly Turnover Slips and Growing Reserves
XRP maintains its leading position on Upbit as weekly turnover declines, while exchange reserves reach yearly highs and ETF streaks end.
XRP Keeps Top Spot on Upbit Despite Weekly Turnover Slips and Growing Reserves
XRP maintains its leading position on Upbit as weekly turnover declines, while exchange reserves reach yearly highs and ETF streaks end.
XRP Upbit turnover declines while maintaining top spot
XRP led trading on Upbit despite a notable decrease in weekly activity, according to recent reports from cryptonews.com. Weekly turnover on the platform slipped by 15.5% down to 8.35 trillion won.
While this concentrated attention kept the asset at the forefront of the exchange, analysts note that the high volume does not provide direct proof of net buying.
Exchange reserves and market pressures
Data from CryptoQuant highlights that XRP exchange reserves climbed to roughly 11.81 billion tokens, marking the 99th percentile of the past year. This accumulation has revived market concerns regarding potential selling pressure.
Concurrently, the asset has been trading near $1.31 to $1.32 as market participants monitor demand levels through ongoing volatility.
ETF outflows and on-chain activity
According to BeInCrypto citing SoSoValue data, U.S. spot XRP exchange-traded funds posted their first weekly outflow during the October 12-16 period. This reversal successfully brought an end to a robust 13-week inflow streak.
Although the recent reversal remains modest, a sharp drop in on-chain activity has contributed to an overarching sense of caution surrounding the token.
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