Coinbase XRP Holdings Jump 4,870% as XRPScan Identifies 146 Exchange Wallets

In Brief:

• Coinbase’s XRP balance rose 4,870.7% because XRPScan labeled 146 existing wallets, not because the exchange purchased or received new tokens.
• Updated records place Coinbase third among identified XRP holders, behind Ripple and Upbit, with 5.68 billion XRP across 152 accounts.
• Permission Delegation passed security testing, while fixCleanup3_3_0 and Batch moved through the XRP Ledger’s validator approval process for network activation.

Coinbase moved into third place among identified XRP holders following a wallet-labeling update by XRPScan. According to XRPScan, the platform identified and labeled 146 Coinbase wallets that its system had not previously recognized.

This change placed existing balances under Coinbase, creating the appearance of a sudden 4,870.7% increase in XRP holdings. However, Coinbase did not purchase or receive the 5.5 billion XRP shown in the automated rich-list update.

XRP Rich List Bot reported that Coinbase’s balance had climbed to 5,569,165,957 XRP during one hourly tracking period. XRPScan clarified that improved wallet attribution caused the adjustment, rather than new XRP activity involving the exchange. Consequently, assigning established wallets to one entity can produce a considerable increase without moving any tokens.

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Coinbase Becomes Third-Largest Identified XRP Holder

Updated XRPScan records place Coinbase’s balance at 5.68 billion XRP across 152 recognized exchange accounts. The amount represents 5.684% of XRP’s supply and positions Coinbase behind Ripple and Upbit.

Ripple leads through accounts containing 3.78 billion available XRP, alongside another 35.7 billion XRP held in escrow. Meanwhile, Upbit controls 6.42 billion XRP across 12 identified accounts, securing second place in the rankings.

Binance ranks fourth with 2.61 billion XRP distributed across 18 wallets linked to its exchange infrastructure. However, exchange balances combine customer deposits, operational reserves, and liquidity rather than representing direct corporate investments. Therefore, Coinbase does not necessarily own every XRP token stored within addresses connected to its platform.

XRP Ledger Amendments Record Further Progress

Separately, Permission Delegation passed an independent Cantina Security review and completed the XRP Ledger quality assurance test suite. The feature allows account holders to grant specific permissions while retaining control over their funds and primary credentials.

Additionally, the fixCleanup3_3_0 amendment approached mainnet activation while maintaining validator backing above the required threshold. The Batch amendment reached 71.43% consensus, moving nearer to the 80% support required for activation. These protocol developments remain separate from Coinbase’s balance change, which resulted entirely from expanded wallet identification.

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