- Massive $53 million XRP shift sparks Coinbase community speculation.
- Internal transfer reveals no immediate threat to XRP market stability.
- Whale Alert flags high-value movement between Coinbase cold storage wallets.
According to Whale Alert, a transaction involving 16,698,207 XRP, valued at around $53,165,037 ($53.16 million), was recorded on the blockchain on Monday. The significant movement sparked speculations that a large external owner had moved funds to Coinbase, which could be a sign of market activity.
However, additional blockchain data showed that the transfer was internal, transferring XRP from the cold wallet “197” to another one, “Cold Wallet 6.” The two wallets are included in the exchange reserves, which usually have similar balances of around 16.5 million XRP per wallet.
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Internal Transfer Points to Operational Management
Coinbase currently operates 27 high-balance XRP wallets, and this transfer represented only a small portion of its total holdings. The activity seems to be a normal operational rearrangement or security management rather than an action aimed at influencing the market.
XRP’s price showed little reaction to the development and is trading around $3.18. According to CoinMarketCap data,  XRP has been in this range since late July, with a significant resistance level at $3.30. The violation of that point can result in profits of $3.50 or $3.70, whereas the inability to break it might retain the sideways movement.
The XRP community is still vigilant of such transactions, with high transfers to exchanges occasionally preceding selling. In this case, the lack of price volatility and the internal nature of the transfer suggest no immediate market implications.
Analysts note that exchanges regularly redistribute assets between wallets to maintain liquidity and enhance security. Such internal shifts are routine asset management practices and do not always signal the overall market dynamics.
Conclusion
The $53 million XRP transfer linked to Coinbase appears to be a standard internal fund reallocation. While the scale of the transaction drew attention, the market impact has been minimal, and XRP’s price stability reinforces the move’s operational nature.
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