Ripple's XRP extended its recent rally, climbing from $1.11 to $1.18, as a notable shift in exchange wallet-flow dynamics and fresh ETF demand lent support to the move. Data from CryptoQuant highlighted that South Korea’s largest exchange, Upbit, emerged as the dominant force behind deposit activity.
Upbit Overtakes Rivals in Wallet Flow Dominance
Upbit’s XRP Net Wallet Flow Dominance surged from 13% on June 7 to 31% by June 14 — its highest level since May 2024 — signaling that the exchange now holds the strongest concentration of XRP deposit activity among major platforms. In contrast, Coinbase saw its dominance collapse from 27% on May 7 to 0% over the same period, while Binance slipped from 16% to 13% and Crypto.com dropped from 9% to 3%. The divergence indicates a rotation of activity toward Upbit rather than evenly distributed flows across exchanges, with CryptoQuant noting that XRP’s rebound is being driven by a “divided flow structure.”
Adding to bullish momentum, crypto analyst Egrag Crypto identified $1.193 as the first major resistance level, with $1.26 possible if buying intensifies, while the $1.09 range remains key support.
Institutional Inflows and Geopolitical Boost
Spot XRP ETFs recorded over $2 million in daily inflows after confirmation of a peace deal between the United States and Iran. SoSoValue data showed that XRP-focused funds attracted nearly $10.7 million over the prior week, even as U.S. spot Bitcoin ETFs suffered $314.8 million in outflows and Ethereum ETFs shed $14.91 million. The renewed optimism triggered a wave of short liquidations exceeding $2 million, further accelerating the price uptick as bearish traders were forced to exit positions. The combination of concentrated exchange activity and institutional product demand underscores how both retail and traditional investor flows are converging to fuel XRP’s recovery.
