Altcoins News
By Evie Vavasseur
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The XRP Outflow Buzz: What Was Initially Reported. Earlier this week, market observers raised red flags when CryptoQuant data appeared to show that…
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On-Chain Data Tells a Different Story. Despite the noise, on-chain analysis quickly cast doubt on the accuracy of the data.
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What the Corrected Data Shows. According to the revised figures:
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Bybit and Bitfinex: Some Data Still In Question. While the Binance and Upbit charts have been corrected, CryptoQuant’s data for Bybit and Bitfinex…
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Impact on the XRP Market. The initial reports of the $12 billion outflows sparked concerns about a potential XRP liquidity…
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Final Thoughts. The XRP exchange outflow panic turned out to be a false alarm, largely caused by a glitch in…
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Recent claims that over $12 billion worth of XRP left major crypto exchanges in a single day caused a stir across the community,surge speculation of a potential supply shock.
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Earlier this week, market observers raised red flags when CryptoQuant data appeared to show that large exchanges—namely Binance, Upbit, Bybit, and Bitfinex—had experienced huge…
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At the time, these numbers were interpreted by many as a sign of impending volatility or major whale accumulation.
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Despite the noise, on-chain analysis quickly cast doubt on the accuracy of the data. Investigations into the wallet activity of Binance, Upbit, and other involved exchanges…
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In its follow-up analysis, The Crypto Basic confirmed that there had been no actual activity to support the initial figures.
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While CryptoQuant has yet to issue a formal explanation or comment on the matter, its updated charts show a much different picture—one that aligns with on-chain evidence.
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Binance still holds around 2.8 billion XRP, with only a modest 35 million XRP withdrawn since June 18.
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Upbit, which was previously believed to have just 1.08 billion XRP, actually maintains 6.08 billion XRP in reserves, making it the largest XRP-holding exchange in the world.
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In fact, Upbit has seen net inflows of XRP during the same period.
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