Crypto analyst STEPH IS CRYPTO has published findings from a large-scale trade study indicating what he describes as structural selling of XRP on South Korea’s largest exchange. He stated that a review of 82 million XRP trades shows persistent selling pressure on Upbit over 10 months. The analysis referenced in the tweet is from an order-book researcher known as Dom, who examined approximately 82 million tick-level trades on the XRP/KRW pair on Upbit and compared them with 444 million trades on Binance. According to the cited data, Upbit’s XRP/KRW market recorded a monthly net negative cumulative volume delta for 10 consecutive months. This means that aggressive market sell orders exceeded aggressive market buy orders throughout that period. In total, the study estimates that roughly 3.3 billion XRP were sold net through Upbit during those 311 days. At recent market prices, that volume equates to approximately $5 billion in value and represents about 5.4 percent of XRP’s circulating supply . The accompanying chart shared by STEPH IS CRYPTO shows a consistent downward trend in cumulative net selling, reinforcing the claim of sustained outflows rather than isolated events. BREAKING: A study of 82 million $XRP trades shows structural selling on Upbit for 10 straight months. pic.twitter.com/yFWcAoTCgm — STEPH IS CRYPTO (@Steph_iscrypto) February 18, 2026 Evidence Suggesting Algorithmic Execution The tweet highlights several characteristics that support classifying this activity as structural rather than retail-driven. A significant portion of trades, estimated between 57 and 61 percent, were executed within 10 milliseconds. This execution speed is typically associated with automated systems rather than manual trading. Order sizing patterns also appear distinct. Sell orders frequently occurred in round-number increments such as 10, 100, or 1,000 XRP. In contrast, buy orders often appeared in fractional amounts, consistent with retail investors purchasing XRP denominated in Korean won. The activity reportedly persisted with minimal interruption, including a documented 17-hour window of near-continuous execution. Taken together, the speed, consistency, and order sizing led the analyst to describe the flow as a structured selling program operating over an extended timeframe. Why Upbit Became the Focal Point The study points to structural factors within South Korea’s crypto market to explain why Upbit appears central to this trend. XRP is one of the most actively traded digital assets on the platform and can account for between 30 and 35 percent of its daily turnover. Upbit itself controls an estimated 60 to 70 percent of the Korean exchange market, making it the dominant KRW liquidity venue. From April through September, XRP on Upbit reportedly traded at a 3 to 6 percent discount relative to Binance . This pricing dynamic suggests that sellers prioritize conversion to Korean won rather than seeking optimal cross-exchange arbitrage. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Clarifying Upbit’s Role An X user, Mike Peace, responded to the tweet by stating that Upbit is not officially dumping XRP. He noted that the data instead points to a large algorithmic seller using the XRP/KRW market as an exit route into Korean won. According to him, observers describe this consistent flow as structural selling. The analyses referenced do not identify Upbit as the principal seller. Instead, they describe order flow hitting the exchange’s books. Possible explanations include a large holder reducing exposure, an institutional hedging program, or an automated inventory management process. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post A Study of 82M XRP Trades On Upbit for 10 Months Drops Shocking Revelation appeared first on Times Tabloid .