$53M XRP Transfer Between Coinbase Wallets Sparks Market Speculation

A massive $53 million XRP transaction has stirred interest across the cryptocurrency community, prompting discussions over its intent and potential market implications. According to on-chain tracker Whale Alert, the movement involved 16.69 million XRP and was linked to Coinbase, one of the largest centralized exchanges in the world.

While such large-scale whale activity often signals possible selling pressure, blockchain data reveals that this transfer may have been an internal transaction between Coinbase’s cold storage wallets, rather than a sell-off. Still, the sheer size of the movement has led traders to monitor XRP’s price action closely for any signs of volatility.

$53 Million Worth of XRP Moved — But Not From an External Wallet

Blockchain monitoring service Whale Alert reported that 16,690,000 #XRP, worth approximately $53.16 million, was transferred from an unknown wallet to Coinbase. At first glance, this raised speculation about a whale preparing to liquidate a large position.

However, further blockchain analysis showed that the sending wallet and receiving wallet were both owned by Coinbase. The transfer occurred between two cold storage addresses — one tagged “197” and the other “Cold Wallet 6”.

Interestingly, these two wallets each typically hold around 16.5 million XRP, suggesting this movement may have been a wallet rebalancing operation rather than a prelude to market selling.