Upbit withdrawal addresses for XRP rose to a record 3,200, signaling that investors are transferring tokens offline rather than selling on exchanges. Earlier, December spikes pushed withdrawals to 2,750 on December 15 and 3,051 on December 17, marking new highs at the time. On January 30, withdrawals again surged to 3,200 even as XRP traded below the $1.8 support, suggesting holders are consolidating amid price pressure.
Analysts highlighted by Kriptomessi argue the trend could herald a significant move if large holders continue to stack in cold storage. Daily withdrawal spikes indicate that whales and active traders are relocating tokens to private wallets or other platforms, potentially easing selling pressure in the near term. However, withdrawals do not always signal a bullish turn, and institutional reshuffles can occur for security or operational reasons without a long-term outlook.
With XRP hovering near critical support, market participants will watch if continued accumulation translates into a price rebound or remains a temporary shift in liquidity. The dynamic underscores how exchange withdrawals can reflect risk-off behavior and liquidity relocation rather than definitive market direction.
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