XRP Poised for 20% Surge as South Korean Exchanges See Unprecedented Withdrawal Activity
A massive wave of XRP withdrawals from South Korean trading platforms suggests accumulation, with large holder activity patterns mirroring those observed before previous major price increases.
Despite experiencing a 10.5% price decline over the last three days, XRP (XRP) appears to be executing a standard post-breakout retest pattern that forms part of a larger bullish formation, with this movement occurring alongside unprecedented withdrawal volumes on Upbit, South Korea's major cryptocurrency exchange.
Key takeaways:
- The bull flag breakout formation remains intact for XRP despite recent downward price action.
- A record-breaking pace of XRP withdrawals is occurring from Upbit exchange by South Korean market participants.
Bull flag pattern breakout in progress for XRP
Last week witnessed XRP successfully breaking above its established bull flag formation, with Thursday's price action representing a pullback to retest the previous upper boundary as newly established support—a frequently observed technical phenomenon following breakouts.
The bull flag technical pattern develops when an asset's price enters a consolidation phase within a descending channel structure after experiencing a powerful upward movement. When the price ultimately penetrates above this channel, the previous resistance level frequently transforms into support during subsequent retests.
In XRP's current situation, this critical support zone sits around the mid-$1.40s, which coincidentally corresponds with the 20-day exponential moving average (20-day EMA, the green line).
Successfully maintaining price levels above this area would preserve the integrity of the breakout and keep the bull flag's projected upside target of approximately $1.70–$1.72 viable, representing roughly 20% gains from present price levels.
Unprecedented XRP withdrawal volumes from Upbit
The optimistic technical pattern developing in XRP corresponds with a dramatic increase in withdrawal transactions on Upbit, South Korea's leading cryptocurrency exchange, based on data provided by CryptoQuant.
Beginning in December 2025, wallet holders spanning virtually every size category have been consistently transferring XRP tokens away from exchange platforms, thereby diminishing potential selling pressure in the immediate term. Such behavior is commonly linked with accumulation periods.
CW, an on-chain data analyst, identified comparable patterns between 2021 and the beginning of 2023, during which heightened XRP withdrawal activity from South Korean trading platforms aligned with a more extensive accumulation period.
This timeframe came before a dramatic price surge, during which XRP surged from prices below $1 to levels exceeding $3, representing an approximate gain of 500%.
Upbit has maintained its position as a prominent trading destination for XRP market participants, frequently functioning as an indicator for assessing retail investor sentiment. As of Thursday's trading session, XRP paired with South Korean Won (KRW) represented the fourth-largest trading pair by volume over a 24-hour measurement period.
Large holder flows indicate fresh XRP accumulation phase
The activity patterns of XRP whales are beginning to reinforce the optimistic market outlook.
By Thursday's close, the 90-day moving average for whale flow metrics had shifted into positive territory following an extended period in negative range throughout most of 2024 and the early months of 2025, an interval characterized by consistent selling from large token holders.
This most recent trend reversal indicates that whale participants have ceased their aggressive distribution activities and may be transitioning back into accumulation mode.
Looking at historical data, transitions from negative to positive whale flow readings have frequently emerged during the initial phases of trend reversals and accumulation-driven consolidation patterns. This pattern includes XRP's rally to $3.55 from approximately $2.20 throughout the April–September 2025 timeframe.