XRP News Today: Coinbase Moves $56.5 Million XRP to Institutional Wallet

On-chain analyst Xaif detected a significant internal transfer on Coinbase, where 26,671,734 XRP, valued at approximately $56.5 million, was moved from Coinbase’s cold wallet to its institutional wallet. This transfer has sparked renewed attention within the XRP community, as it suggests a major shift in liquidity preparation.

Unlike typical outflows to exchanges that often precede sell-offs, this transfer occurred internally within Coinbase’s ecosystem. The XRP was moved from a cold storage address to wallet DT:1, which is widely associated with Coinbase Institutional—an arm that services high-net-worth clients, OTC desks, and institutional funds. These wallets are not used for day-to-day retail transactions but for facilitating large-scale settlements and trades.

The nature and direction of this move imply that Coinbase is gearing up for significant trading volume, potentially from large institutional clients. It also reflects growing confidence in XRP as a viable liquidity asset, especially as more institutional actors enter the digital asset space.

This isn’t the first such move. On June 12, roughly 27 million XRP were also transferred internally by Coinbase to the same institutional wallet. These recurring high-volume transactions are not anomalies—they point to a larger trend of proactive liquidity management. As the exchange prepares for larger trade flows, especially from institutions, repositioning assets into operational wallets becomes essential.

XRP’s price has remained stable through these movements. Currently trading at $2.12, the token has been consolidating around the $2 mark for several weeks following its explosive rally in late 2024. Importantly, similar internal transfers in the past—such as those in early June and December 2024 involving tens of millions of XRP—did not lead to any sustained price declines. This reinforces the interpretation that these are non-bearish operational moves.

Reactions from XRP enthusiasts have been overwhelmingly positive, reflecting the community’s growing excitement and optimism. One user enthusiastically responded with, “Absolutely fantastic,” capturing the sentiment of many who see this development as a major step forward.

Another echoed the anticipation with a spirited tweet: “Let’s fire it up. It’s about time,” underscoring the collective eagerness for progress and momentum within the XRP ecosystem.

Xaif’s alert has drawn attention to more than just a wallet transfer—it has highlighted the growing institutional readiness surrounding XRP. Coinbase’s internal shift of over $56 million in XRP signals preparation, not liquidation. At a time when XRP is holding firm around $2.12, such a move suggests the groundwork is being laid for increased trading activity at higher volumes.

For the XRP Army, this is yet another sign that momentum is building beneath the surface. With institutions preparing their positions and infrastructure aligning for scale, XRP’s next phase may already be in motion—quietly and strategically.