An independent market analyst who tracks on-chain order-flow data says South Korea’s Upbit exchange may now wield outsized influence over the spot price of XRP, the world’s fifth-largest crypto-asset by market capitalization. In a series of posts on X, the trader known as “Dom” (@traderview2) published a chart of cumulative-volume-delta (CVD) across eight venues that appears to show Korean selling pressure easing just as the token found a local bottom.
The 48-hour chart, covering 2–4 August, plots the net market buys and sells on Binance, Coinbase, Bybit, OKX, Kraken, Bitstamp and Upbit against XRP’s average spot price. While Binance’s CVD line (green) continued to grind lower—signalling sustained net selling—Upbit’s purple line flattened after an aggressive draw-down of roughly 35 million XRP. The inflection coincided with a reversal in the grey price line, suggesting that waning Korean offers may have removed the largest headwind even as Binance sellers pressed on.
At press time, XRP changed hands at $3.05, up 4.8% in the past 24 hours.
