Pro-XRP Lawyer Says Claims Of Coinbase Manipulating XRP Price Are ‘Highly Unlikely’

Data from multiple blockchain trackers shows that Coinbase has drastically cut its XRP holdings, a move that has taken many crypto investors by ￰0￱ say such a huge reduction points to large outflows from institutional investors, but others have gone further by alleging manipulation. However, pro-XRP lawyer Bill Morgan has poured cold water on these ￰1￱ Of Coinbase Manipulation Swirl On X US-based exchange Coinbase recently reduced its stash from more than 780 million XRP to just under 200 million in a matter of ￰2￱ translates to a 69% reduction in the exchange’s holdings since the second quarter of 2025, including a 57% plunge over the last month ￰3￱ scale of the drawdown has also shifted Coinbase’s ranking among exchange holders of XRP, sliding it from the fifth largest to barely in the top ￰4￱ Reading: MemeCore Explodes 3,800% For ATH — But Is A Collapse Around The Corner?

An account on the social media platform X, known as Stern Drew, suggested that Coinbase’s sell-offs go with a deliberate strategy to suppress XRP’s ￰5￱ a detailed thread, the commentator claimed that nearly 40% of the outflows were routed through OTC desks tied to New York institutions and that the timing of the sales coincided with XRP price dips in ￰6￱ to the thread, more than 70% of the volume was unloaded during low-liquidity trading hours, while fragmented routing across wallets masked the scale of the ￰7￱ thread even suggested that some of the XRP ended up with BlackRock-linked custodial wallets, a move that further points to theories about institutional ￰8￱ Morgan Pushes Back On Manipulation Claims Bill Morgan was quick to reject the idea that Coinbase is actively manipulating XRP’s ￰9￱ his view, the theory overlooks the fact that XRP has exhibited the same behavior throughout its history, including during the long stretch when Coinbase delisted the asset and had no apparent influence on its market ￰10￱ suspended XRP trading in January 2021, but it wasn’t until July 2023 that the cryptocurrency started trading again on the US-based exchange.

“One heck of a theory about Coinbase being against XRP,” he said, before noting that the token’s movements today are consistent with its established ￰11￱ suggestion of manipulation by Coinbase fails to hold up, as XRP’s price action appears more reflective of broader crypto market movement than any deliberate suppression by the ￰12￱ has been trading within a well-defined range between $2.8 and $2.9 in the past seven ￰13￱ it lost the $3 support level as August came to a close, XRP has managed to hold above $2.8 since then, and this level has so far cushioned it from deeper ￰14￱ Reading: American Bitcoin, Backed By Trump, Ends Nasdaq Debut Up 17% On the upside, the $3.10 level is the critical resistance to watch.

A decisive break above that barrier could shift momentum back in favor of the ￰15￱ then, XRP’s price is likely to continue consolidating between $3.10 and $2.8. At the time of writing, XRP is trading at $2.82. Featured image from Unsplash, chart from TradingView