XRP News Today: 5.5 Billion XRP Vanishes from Upbit Reserves, Sparking Debate

On June 24, 2025, a tweet from Abs, host of the Good Morning Crypto show, revealed that 5.5 billion XRP was suddenly withdrawn from the cryptocurrency exchange Upbit. The tweet included an image from CryptoQuant, which highlighted a sharp drop in Upbit’s XRP exchange reserves. This unexpected change in reserves sparked widespread speculation within the cryptocurrency community.

The graph showed a consistent XRP reserve balance of around 6 billion XRP on Upbit over several months, followed by a sudden and steep plunge to approximately 1 billion XRP. This dramatic change triggered questions about whether this was a sign of large-scale accumulation by institutional players or a technical issue.

Community responses to the tweet were mixed. Jason Thorpe questioned whether the massive withdrawal could be linked to banks and financial institutions accumulating XRP, implying that large financial entities might be preparing for future use cases involving XRP. Another user, TxBorn83, pointed out that the beauty of blockchain technology allows anyone to verify such claims directly through wallet addresses, suggesting that the crypto community should rely on transparent blockchain data to confirm or dismiss such events rather than depend solely on social media posts.

However, not everyone was convinced of the legitimacy of the reserve drain. DMichael_XRP responded by calling the event an “API glitch” and criticized the post, suggesting that it was misinformation driven by technical reporting errors rather than actual fund movement.

In response to the attention generated by the tweet, Times Tabloid conducted an independent investigation into the Upbit XRP wallets. Data from XRP scan showed that several Upbit-linked wallets still held substantial amounts of XRP, including one wallet containing over 1 billion XRP and multiple others holding 500 million XRP each. This wallet data suggests that Upbit continues to maintain significant XRP reserves despite what the CryptoQuant chart displays. The evidence from Times Tabloid’s wallet tracking raises questions about the accuracy of the exchange reserve metric reported by CryptoQuant. It indicates that the sudden drop on the chart may not represent an actual movement of funds but could be due to a technical discrepancy in data reporting.

The sudden disappearance of 5.5 billion XRP from Upbit’s exchange reserves, as shown in the CryptoQuant chart, remains a mystery at the time of reporting. While some in the community speculate that this could be a sign of institutional accumulation, others firmly believe it is a simple reporting error or API malfunction. The Times Tabloid investigation into Upbit’s wallet balances provides evidence that the exchange still holds a huge amount of XRP across multiple wallets. This significantly challenges the narrative that the exchange was drained of billions of XRP. However, without an official statement from Upbit or CryptoQuant, it is unclear whether this anomaly was due to technical issues or an intentional, large-scale withdrawal.