- Coinbase cold wallets drop sharply as XRP shifts to new locations.
- XRP movements linked to Ripple’s ODL raise fresh speculation online.
- On-chain data shows calculated transfers to BitGo and Bitstamp wallets.
Coinbase has initiated a major restructuring of its XRP cold storage, with blockchain data revealing a 40 percent reduction in its funded wallets. @XRPwallets first reported the movement on X (formerly Twitter), a well-known tracker of XRP-related addresses.
According to the tracker’s post on June 9, Coinbase held a total of 52 cold wallets comprising 10 wallets with 26.8 million XRP and 42 wallets with 16.8 million XRP, totaling an estimated 970 million XRP.
However, a follow-up post published on July 29, 2025, confirms that only 35 of those wallets remain funded, each now holding 16.8 million XRP (@XRPwallets, Jul 29, 2025).
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This sharp reduction in wallet activity has coincided with significant outbound transfers. One such transaction involved 16.8 million XRP moved from a cold storage address labeled “Cold Wallet 400” to a Coinbase hot wallet. On-chain watchers are actively monitoring these movements.
Responding to community queries, @XRPwallets noted that approximately 8 million XRP is being reallocated to new subwallets, some of which appear to be connected to Bitstamp and BitGo.
Both platforms are known participants in Ripple’s On-Demand Liquidity (ODL) framework. This suggests that the ongoing changes may be tied to internal preparations related to liquidity deployment or XRP price positioning.
Transfers Signal Realignment Toward Ripple’s Liquidity Network
The nature of these wallet activities points to a calculated strategy rather than an emergency measure. Coinbase’s structured movement of XRP into Ripple-associated channels indicates a realignment in how the exchange handles reserve management.
Such transfers often precede enhanced market participation or preparation for high-volume utility, especially within Ripple’s cross-border transaction systems. The involvement of entities like Bitstamp and BitGo further supports the view that these changes are operational, not reactive.
Additionally, the connection to Ripple-associated infrastructure raises the possibility that Coinbase is aligning itself more closely with liquidity networks that support faster and more efficient cross-border settlement.
Coinbase’s silent XRP cold wallet overhaul has resulted in hundreds of millions of XRP moving across the network. Based on updates from @XRPwallets, these movements appear to reflect a calculated operational adjustment rather than a market exit.
The migration of XRP into Ripple-connected destinations further supports the theory of a long-term liquidity strategy being put in place.
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