Usman Salis
⬤ XRP withdrawal addresses on Upbit spiked to record levels in January, based on XRP Ledger. The number of addresses pulling XRP off the exchange climbed higher than ever before, happening right as the token traded near $1.8. Multiple sharp spikes in withdrawal activity appeared across the month, showing heightened movement away from the centralized platform.
⬤ The data shows a clear acceleration in exchange withdrawals heading into early 2026. While XRP's price has moved through various market cycles over time, the scale of withdrawing addresses has jumped dramatically compared to previous periods. Earlier activity on the chart looks modest by comparison, making this January surge the most intense on record according to the available metrics.
⬤ Upbit ranks among the largest exchanges for XRP spot trading, making these withdrawal patterns significant for market watchers. The surge in addresses moving coins off the exchange is happening while XRP remains below its previous all-time highs, creating a noticeable gap between on-chain activity and immediate price action. This disconnect doesn't point to any specific price direction but does show unusual network behavior.
⬤ The record withdrawal activity matters because it signals changing holder behavior during uncertain market conditions. When large numbers of addresses withdraw from centralized exchanges, it typically affects available liquidity and can reshape trading dynamics. While the data doesn't predict where prices head next, it confirms that XRP holders are actively repositioning their assets as the market evolves.
Usman Salis
