XRP News Today: Coinbase Moves 16.7 Million XRP in $51.8M Transfer Amid Shrinking Holdings

Anonymous transfer of 16,712,632 XRP into a Coinbase-linked wallet has triggered widespread speculation about the exchange’s management of its XRP reserves [1]. This single transaction, valued at approximately $51.8 million, mirrors a pattern of repeated large-scale movements, all involving the same amount of XRP, which has intensified scrutiny around Coinbase’s asset-handling strategy [1].

According to on-chain analytics from “XRPWallets,” this move is part of a broader trend that has been unfolding since June, when 52 cold wallets linked to Coinbase were identified, containing a total of around 974 million XRP. As of now, only 23 wallets fit the previously identifiable structure, with the total visible holdings dropping to 379.5 million XRP — a 60% decline [1]. The latest transfer aligns with the consistent slicing pattern observed in earlier movements, suggesting a deliberate strategy rather than random activity [1].

Analysts suggest the transactions could represent internal wallet reshuffling, asset transfers to custodial partners, or withdrawals by institutional clients [1]. However, the absence of an official statement from Coinbase has left room for speculation, including theories linking the movement to subwallets connected with Bitstamp, BitGo, or Ripple’s On-Demand Liquidity system [1].

Further on-chain data reveals that Coinbase’s XRP holdings have fallen by 57.4% since early June, from nearly one billion XRP to just under half that amount [1]. The transfers appear measured and strategic, with regular amounts and well-timed execution, as evidenced by the recent internal movement of 16.69 million XRP from one cold wallet to another [1].

Observers have raised concerns about the implications of these developments for market stability and transparency. The lack of clarity around the purpose of the transfers has fueled ongoing debate among traders and analysts [1]. Until Coinbase provides an official explanation, speculation is expected to persist, potentially affecting investor sentiment and market dynamics [1].

Source:

[1] 16,712,632 XRP Coinbase Move Sparks Outrage – What’s Going On?

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