The $61.3 million relocation of XRP, Korea’s largest crypto exchange, left Upbit. For a while, the whole community was talking. Blockchain trackers have led to a “unknown wallet” in the 19 million XRP move, causing a round of normal speculation. Further investigation revealed that the funds never actually left Upbit’s trajectory and instead shuffled between the exchange’s sub-willets.
For platforms that exceed $4.57 billion in daily spot volumes, these types of internal transfers are not uncommon, but the size and timing of this type were outstanding. XRP is one of the busiest markets at Upbit, accounting for over 12% of trading activity.
Managing such high asset liquidity often requires significant movements in and out of cold storage, or requires reorganizing the hot wallet balance to fit the withdrawal pattern.
🚨19,000,000 #xrp (61,329,169 USD) transferred from #upbit to unknown wallethttps://t.co/fvhh16me3n
– Whale Alert (@Whale_Alert) August 13, 2025
On-chain mapping is a typical setup when you are preparing for heavy exchange activity before a transaction hits a receiving address and branches into multiple small sub-willets.
Whether this is linked to a sudden influx of user demand, internal accounting adjustments, or regular maintenance, the amounts involved are difficult to ignore.
Here’s how XRP prices respond
Price-wise, this move hasn’t really shaken up the XRP charts. The token has been held at around $3.27 in a recent session, recovering to $2.98 from the early August dip, finding its footing in lateral range. Upbit’s liquidity remains strong, indicating that millions of bids are close to spot prices and stress-free in orders.
For coins that are consistently ranked among the most traded on the Korean platform, observing these substantial internal transfer destinations is part of the market’s daily rhythm. Sometimes they disappear into the background, sometimes they are the preludes of the bigger ones.
