This trend began in December 2024, when Upbit started significantly increasing its XRP reserves. At the time of writing, the amount of XRP held by the exchange is now at levels that rival its Bitcoin holdings.
As shown in the chart below, XRP’s USD value in Upbit’s reserves has risen steeply alongside Bitcoin’s since the beginning of the year, with XRP even breaking above $20 billion briefly before retracing.
As of now, the value of XRP reserves on Upbit is around $18 billion, only slightly below Bitcoin’s $20 billion on the platform. For comparison, Ethereum’s holdings on Upbit are just a little above $5 billion. This shows how XRP has carved out a position much closer to Bitcoin than any other major cryptocurrency on the exchange.
Monitoring these reserve trends at Upbit could serve as an important indicator for XRP’s trajectory in the months ahead. Given Upbit’s large influence in Asia, its portfolio balance has implications beyond its own platform, and it could shape XRP’s demand and price action within the continent.
