Coinbase XRP holdings fell about 89.8% from ~970 million XRP across 52 cold wallets in June to roughly 99 million XRP in mid‑September, per on‑chain data reported by XRPWallets. The change reflects sustained transfers off the exchange, leaving only six active cold wallets.
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89.79% decline from June to mid‑September
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On‑chain data shows transfers from Coinbase cold wallets to unknown destinations, with intermittent inflows back to the exchange.
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Coinbase now holds about 99 million XRP vs ~970 million in June; XRP market cap remains near $183 billion.
Coinbase XRP holdings dropped 89.8% to ~99M XRP by mid‑September — read on‑chain analysis, data table, FAQs, and key takeaways to understand the shift.
What happened to Coinbase’s XRP holdings?
Coinbase XRP holdings declined sharply after on‑chain trackers recorded large, repeated transfers out of the exchange’s cold wallets. Coinbase moved from roughly 970 million XRP across 52 cold wallets in June to about 99 million XRP in mid‑September, driven by sustained transfers between Coinbase and unknown wallets.
How did on‑chain transfers drive the decline?
On‑chain data reported by XRPWallets shows a pattern of repeated withdrawals from Coinbase cold storage during the summer months. Ten wallets previously held ~26.8 million XRP each, while the remaining wallets combined for ~16.8 million XRP; by mid‑September only six cold wallets remained active, each holding ~16.5 million XRP.
That change equates to an 89.79% reduction in visible Coinbase holdings. The chain data records movement but does not reveal final custodianship or off‑chain transfers into private vaults or institutional custody.
How to track Coinbase XRP movements on‑chain?
- Identify Coinbase cold wallet addresses reported by on‑chain trackers such as XRPWallets (plain text reference).
- Monitor ledger transfers for incoming and outgoing transactions and note recurring counterparties and amounts.
- Check timestamp clusters to see concentrated transfer windows indicating large batch movements.
- Compare historical balance snapshots (e.g., June vs September) to quantify percent change.
- Correlate large transfers with market events or exchange announcements to infer possible custodial changes.
| Metric | June (approx.) | Mid‑September (approx.) | Change |
|---|---|---|---|
| Active cold wallets | 52 | 6 | -46 wallets (-88.5%) |
| Total visible XRP | ~970,000,000 XRP | ~99,000,000 XRP | -89.79% |
| Largest per‑wallet holding (approx.) | ~26.8M XRP | ~16.5M XRP | -38.4% per largest wallet |
Frequently Asked Questions
How big was the decrease in Coinbase XRP reserves?
The decrease was roughly 89.79% from June to mid‑September, falling from about 970 million XRP to approximately 99 million XRP according to on‑chain snapshots reported by XRPWallets.
Where might the withdrawn XRP be going?
On‑chain traces only show removals from exchange cold wallets. Withdrawn XRP may move to private custody, institutional vaults, OTC counterparties, or other exchanges; on‑chain addresses do not reveal off‑ledger custody or end users.
Does this affect XRP’s market rank?
XRP remained the third largest cryptocurrency by market capitalization (approx. $183 billion) during these transfers. Visible exchange holdings changing do not directly alter circulating supply or market cap calculations.
Key Takeaways
- Major decline: Coinbase’s visible XRP holdings dropped ~89.79% between June and mid‑September.
- On‑chain transparency limits: The ledger shows movements but not final custodians or off‑chain transfers.
- Action for investors: Monitor public cold wallet addresses, transaction clusters, and balance snapshots to interpret custody shifts.
Conclusion
Coinbase’s visible XRP holdings have fallen sharply, with on‑chain data from XRPWallets recording an 89.79% decline to around 99 million XRP by mid‑September. While the ledger confirms substantial transfers off exchange cold wallets, it does not identify recipients or motives. Investors should track wallet balances and transaction patterns and consider custody shifts when assessing market supply dynamics. For continued coverage and on‑chain analysis, follow updates from COINOTAG.
