- Coinbase shifts $55M XRP internally after Ripple-SEC settlement ends.
- Whale Alert flags huge XRP transfer, XRP_Liquidity confirms internal move.
- XRP hits $3.38 as legal clarity meets fresh liquidity boost.
Coinbase moved 16,684,298 XRP, valued at $55.46 million, shortly after the conclusion of Ripple’s legal dispute with the U.S. Securities and Exchange Commission. Whale Alert on X first reported the transaction, describing it as a transfer from an unknown wallet to Coinbase.
XRP_Liquidity subsequently explained that it was an internal transfer between Coinbase Cold Wallet 396 and an operational address, leaving 29 cold wallets with an approximate 16.5 million XRP each.
The transfer was noted in the wee hours of Aug. 8, just under 24 hours after Ripple and the SEC settled their appeals in the Second Circuit. This move ratified a July 2023 decision by Judge Analisa Torres, who had concluded that XRP sales to institutional purchasers were unregistered securities sales but also found that sales in exchanges and to retail purchasers were not.
Both parties agreed to bear their legal expenses, bringing the case to a definitive close. Blockchain analysts concluded that the transfer was part of Coinbase’s internal asset management rather than an external liquidation.
Also Read: Whales Scoop Up 230M DOGE as Price Breaks Key Level — Next Stop $0.29?
Internal Wallet Shift Points to Strategic Liquidity Positioning
Coinbase’s decision to move assets from cold storage to an active wallet is consistent with preparations for increased market activity. These kinds of transfers are usually made before trading volume increases, particularly in line with some major industry news.
XRP’s market price reacted positively to the legal resolution, reaching $3.38, its highest level since late July. The simultaneous occurrence of the settlement and the scale transfer has attracted the attention of traders and analysts who have been tracking the flow of liquidity.
Market observers suggest that regulatory clarity and new liquidity could boost short-term interest in XRP. Coinbase’s reallocation of assets indicates that it is willing to meet potential surges in trading activity by institutional and retail customers.
The XRP community and the rest of the market are currently keeping a close eye on how the post-settlement period will turn out to see whether it will cause a continuous rise in price. The following trading sessions are expected to offer early indications of how the market will respond to both the regulatory outcome and the liquidity shift.
Also Read: Here’s Why XRP Price is up 11% All of a Sudden
