Where did the 6.3M $XRP from Upbit go next?
The 6.3M #XRP withdrawn from Upbit on May 5, 2026, was quickly distributed from the initial receiving wallet (“r3bqvUf”) to multiple destinations shortly after arrival. Most funds (~6.18M XRP) were sent out within hours, leaving only 119,800 XRP ($171,800) in the main wallet as of latest reports.
Confirmed Destinations
1) Significant portions went to Binance, Bybit, Bitget, and Gate.io – likely for liquidity management or redistribution.
2) The rest was split across various unidentified addresses, suggesting further scattering or holding.
3) Triggered by “rEdP7w”, associated with the bankrupt Bittrex exchange (2023), implying possible exchange-internal reshuffling.
Current Status
No single large holder remains with the bulk; it’s fragmented across ~10+ addresses/exchanges.