Coinbase’s XRP Holdings Shrink 40% in Sudden Wallet Rotation
Main Idea
Coinbase has significantly reduced its XRP holdings by 40%, moving large amounts from cold storage, which may indicate strategic preparation for increased usage or market volatility.
Key Points
1. Coinbase previously held an estimated 970 million XRP, but now only 35 addresses remain funded, marking a 40% drop in holdings.
2. In June, 10 wallets contained 26.8 million XRP each, while 42 others held 16.8 million each; by July 29, most wallets were nearly empty.
3. The withdrawals appear calculated, possibly consolidating XRP into new subwallets linked to Ripple’s On-Demand Liquidity infrastructure.
4. The movement does not suggest panic but may be in anticipation of heavier usage or price volatility in XRP’s market.
Description
Why major US exchange Coinbase just pulled 40% of its XRP out of cold storage
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