XRP signals are diverging at the start of 2026, with Upbit and Bithumb reserves plunging by about 22 million XRP (roughly 0.14% of total supply), while Binance reserves rose by roughly 25–30 million XRP. The shifts highlight contrasting dynamics across exchanges and echo patterns seen during late 2024’s price surge. On-chain activity remains robust, with large holders moving ahead of volatility. The XRP Ledger logged 2,170 whale transfers of $100k+ on the 5th and 2,802 on the 6th, the highest in three months, indicating significant activity by major holders even as institutional demand cools.
In the United States, the spot XRP ETF posted its first net outflows since launch, with $40.8 million leaving in a single day and $47.25 million exiting the TOXR product. Grayscale’s GXRP was the only inflow, at $1.69 million, but the overall outflow trend persisted. Since inception, ETF inflows reached about $1.2 billion, with total assets under management around $1.53 billion, fueling concerns about sustained institutional buying.
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