Coinbase Wallet Shows Massive XRP Cuts, What’s Going On?

Data shows crypto exchange Coinbase has made a surprising shift in its XRP holdings by reducing its stash from more than 780 million XRP to around 200 million in a matter of ￰0￱ to data from XRPScan, Coinbase’s total XRP holdings have fallen by a massive 69% from its most recent proof of reserve report. Notably, this cutback comes at a time when institutional players like BlackRock are increasingly intertwined with Coinbase’s operations Coinbase Slashes XRP Holdings Once the fifth-largest exchange holder of XRP , Coinbase has now slipped to tenth place after reducing its balance from approximately 780.13 million XRP to 199.47 ￰1￱ represents a staggering 69% reduction since the second quarter of 2025, with a 57% plunge in just the past ￰2￱ a huge cutback in Coinbase’s XRP holdings within a short period of time can only be attributed to outflows from institutional ￰3￱ the time of writing, Coinbase has 11 cold wallets remaining, each holding 16.5 million XRP ￰4￱ is a massive fall from early June numbers of 52 cold Coinbase wallets holding a total of 970 million XRP, according to XRPwallets , an XRP commentator account on the social media platform X.

Interestingly, XRPwallets also hinted at the possibility of these huge movements being linked to ￰5￱ is a suspect due to the nature of its recent collaboration with ￰6￱ collaboration, which was announced in early August, was done to allow institutional investors easy access to digital assets directly through ￰7￱ Bitcoin was initially the focus, the partnership has most likely expanded to XRP due to its growing demand among institutional ￰8￱ Suggests Retail Dominance In Exchanges Right now, all that’s left in Coinbase’s XRP wallets might be mostly XRP held by retail ￰9￱ also speculated that other major exchanges, such as Uphold, Binance, and Upbit, could eventually show similar balances, around 200 million XRP each, once Ripple’s distributions move through the ￰10￱ their estimates, this would leave about 1 billion XRP across exchanges and another 900 million resting in retail cold ￰11￱ the numbers were framed as guesses, they relate to the idea that institutional channels are absorbing XRP, leaving exchanges increasingly as platforms for retail activity.

Interestingly, other crypto exchanges like Upbit and Uphold have also seen their XRP holdings fall massively within the same time period as Coinbase. Upbit, for instance, saw its XRP balance fall from 6.03 billion XRP to 5.84 billion XRP. Uphold, on the other hand, saw its XRP balance fall from 1.907 billion XRP to 1.746 billion ￰12￱ is still trading below the $3 resistance level after repeated rejections this month, which has left the crypto’s near-term trajectory in ￰13￱ exchange balances often point to decreasing sell pressure, which could help support price ￰14￱ the time of writing, XRP is trading at $2.83, up by 0.8% in the past 24 hours.