ChainCatcher Message, CryptoQuant CEO Ki Young Ju revealed on X that whale activity on Coinbase is the driving force behind the recent rise in XRP prices. Over the past 30 days, Coinbase's minute-level price premium has fluctuated between 3% and 13%, indicating strong market interest in XRP.

However, the South Korean exchange Upbit, despite having more XRP investors than Binance, has not seen a significant price premium. This phenomenon suggests that demand for XRP varies between different exchanges, possibly related to investor behavior and market liquidity. Investors should closely monitor this data to better understand market dynamics.