Coinbase Reduces XRP Holdings by 69%, Spark Controversy Over Manipulation Claims

Coinbase has significantly reduced its XRP holdings from over 780 million to below 200 million, a 69% decrease since Q2 2025, including a 57% drop in the past month. This shift has moved Coinbase from the fifth-largest to outside the top ten XRP holders.

Key Points

Analysts suggest large outflows may indicate institutional investor behavior.
Claims of market manipulation by Coinbase have emerged, suggesting sales coincided with XRP price dips.
Comments indicate that over 70% of XRP sales occurred during low-liquidity trading hours.
Some XRP may have been directed to custodial wallets linked to BlackRock.

Response to Manipulation Claims

Pro-XRP lawyer Bill Morgan has dismissed allegations of Coinbase manipulating XRP prices, stating that XRP's price movements align with historical trends rather than exchange actions. He noted that XRP has consistently shown similar patterns, regardless of Coinbase's trading status.

XRP is currently trading at $2.82, within a range of $2.8 to $2.9, with $3.10 as a critical resistance level for potential upward momentum.