Coinbase-linked XRP cold wallets lost 594 million tokens from June totals as repeated transactions reveal ongoing redistribution.
The latest 16.71 million XRP transfer mirrors the exact size of previous transactions tied to identified Coinbase wallet patterns.
Only 23 of the originally tracked 52 Coinbase wallets now match the recognizable XRP holding pattern documented earlier this year.
Earlier today, blockchain data recorded a transfer of 16.71 million XRP, worth just over 51.8 million dollars, to Coinbase from an address with no confirmed connection to the exchange. The transaction amount matched the consistent “slice size” repeatedly observed in major U.S. exchanges’ recent XRP wallet activity.
In June, the blockchain tracking account XRPWallets identified 52 cold wallets linked to Coinbase. Ten of those wallets each contained about 26.8 million XRP, while the remaining 42 held around 16.8 million XRP each. Combined, these wallets stored nearly 974 million XRP at that time.
Significant Reduction in Tracked Holdings
The same tracker now identifies only 23 wallets that match the earlier recognizable distribution pattern. Each of these wallets currently holds roughly 16.5 million XRP, totaling around 379.5 million. This represents a reduction of about 594 million XRP from the June figures, marking a drop of more than 60% in the holdings that can still be tracked.
https://twitter.com/whale_alert/status/1956318334896521628
The latest inflow of 16.71 million XRP to Coinbase aligns closely with the existing transaction pattern, suggesting that the movement may be part of an internal reshuffling process rather than new deposits from unrelated sources. These transfers could involve relocation to new wallets, movement to an external custodian, or withdrawals by large clients.
Connection to Ripple’s ODL Network Speculated
Some observers have noted that such activity could be linked to Ripple’s On-Demand Liquidity network, though no official confirmation has been provided. The blockchain records indicate the location and movement of tokens but cannot reveal the reason behind the changes.
Coinbase has not addressed the reduction in the publicly identifiable XRP holdings. Until more details emerge, the visible data points to a shrinking stash of XRP in wallets that match the previously documented structure, repeated transaction sizes, and a potential coordinated strategy behind the shifts.
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