XRP Wallet Activity May Indicate Transfers as Coinbase Accounts Drop to Six and Exchanges Hold Billions

• Coinbase XRP wallets fell from ~53 to 6 in one month

• Three exchanges — Binance, Upbit and Bithumb — now hold the largest XRP balances.

• Approximately 1 billion XRP left Coinbase wallets; Upbit reportedly holds ~5B XRP.

Coinbase XRP wallets plunged from 53 to 6 in a month; read where ~1B XRP moved, which exchanges hold billions, and key takeaways — read COINOTAG analysis now.

What happened to Coinbase XRP wallets?

Coinbase XRP wallets decreased dramatically from about 52–53 addresses to just 6 within a month, according to on-chain tracking by the analyst @XRPwallets. The move represents roughly ~1 billion XRP leaving known Coinbase-controlled addresses and being aggregated or redistributed elsewhere.

How did the transfers occur and where might the XRP have gone?

On-chain monitoring shows the number of Coinbase-labeled XRP addresses shrank as large balances were moved off those addresses. @XRPwallets suggests two main possibilities: transfers into institutional custody tied to Coinbase’s Aladdin partnership or reallocation into ETFs or other investment vehicles.

The analyst noted the original set of ~52 wallets contained roughly 1 billion XRP. There is no on-chain labeling that directly confirms custodial destination; conclusions are drawn from address clustering and timing of transfers.

How many exchanges hold billions of XRP?

Three exchanges are reported to hold from one to several billion XRP: Binance, Upbit, and Bithumb. Per the same on-chain analysis, Upbit’s balance is cited at ~5 billion XRP, while Binance and Bithumb each hold between ~1–3+ billion XRP.

Other exchanges in the top ten list now show much smaller individual balances (≈300 million XRP or less each), indicating a concentration of large holdings in the three platforms above.

How can you verify exchange XRP wallets?

Verify exchange XRP wallets using on-chain analysis and public ledger tools. Below are practical steps:

1. Identify wallet clusters labeled by reputable on-chain analysts or explorers.
2. Cross-check transfers and timestamps to see large inflows/outflows.
3. Compare known exchange withdrawal/deposit patterns to isolate custodial addresses.

Frequently Asked Questions

Why did Coinbase XRP wallets drop so quickly?

The decrease likely reflects large internal transfers and custodial consolidations. Analyst @XRPwallets links the timing to institutional product flows and a partnership involving Coinbase and Aladdin; however, on-chain data alone cannot confirm the exact off-chain destination.

How can this affect XRP liquidity on exchanges?

Significant movement of XRP from exchange-labeled addresses can tighten available on-exchange liquidity, potentially affecting order-book depth and short-term price dynamics. Exchanges holding billions may still provide market liquidity despite redistribution.

Key Takeaways

• Rapid consolidation: Coinbase-labeled XRP addresses fell from ~52–53 to 6, moving ~1B XRP.
• Concentration of reserves: Binance, Upbit and Bithumb now hold the largest exchange XRP balances.
• Verify on-chain: Use ledger explorers and clustering analysis to track large transfers; results should be cross-checked with exchange disclosures where available.

Conclusion

This COINOTAG report summarizes on-chain observations showing a sharp decline in Coinbase XRP wallets and a concentration of XRP reserves on a few exchanges. Readers should monitor on-chain flows and official exchange statements for confirmation. For ongoing coverage and updates, consult COINOTAG analyses and plain-text public disclosures.