Coinbase Receives 16.7 Million XRP in a Single Transaction Worth $53M

Coinbase moved 16.7 million XRP worth $53M in an internal transfer between its cold wallets.
XRP price remained stable at $3.18 despite the large $53M deposit on Coinbase.
Coinbase holds over two dozen cold wallets, each holding around 16.5 million XRP.
XRP has faced resistance at $3.30 since July, with little price movement since.

On August 11, Coinbase received a large deposit of 16.7 million XRP tokens, valued at approximately $53 million. The transfer immediately caught the attention of the cryptocurrency community due to its size. While many initially thought it was an external transfer, on-chain data revealed that the transaction was internal, indicating a shift within the exchange’s wallets.

Coinbase Receives Massive 16.7 Million XRP Transfer

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The 16.7 million XRP tokens were moved from one Coinbase cold wallet, labeled “197,” to another wallet identified as “Cold Wallet 6.”

Both wallets are part of Coinbase’s cold storage system, which is used for securing the exchange’s assets. According to on-chain data, this was a routine internal transfer, not an external movement from another wallet or holder.

🚨 🚨 🚨 16,698,207 #XRP (53,165,037 USD) transferred from unknown wallet to #Coinbase https://t.co/kxca5ldroS
— Whale Alert (@whale_alert) August 11, 2025

These wallets are a part of Coinbase’s extensive cold storage system, which holds large amounts of cryptocurrencies to ensure their safety. As of now, Coinbase operates more than two dozen such high-balance wallets, each holding roughly the same amount of XRP, around 16.5 million tokens. Therefore, this transaction represents only a small portion of Coinbase’s total XRP holdings, which remain far greater.

Market Reaction to the Transfer

The transfer did not immediately affect the price of XRP. At the time of the transaction, XRP was trading at approximately $3.18. The price had been stable within a narrow range since late July, with $3.30 acting as a resistance point. Despite the large deposit, there was no notable movement in the price, suggesting that the market did not view the transfer as having a significant effect on supply or demand.

XRP has experienced some price fluctuations recently, but its price has remained relatively steady. A break above the $3.30 resistance level could lead to further gains, potentially pushing the price toward $3.50 or $3.70. However, if the price remains below this resistance, it is likely to continue trading sideways for the time being.

Routine Operational Adjustment at Coinbase

Although large transfers of cryptocurrencies often attract attention and raise questions about potential market impact, this specific transfer seems to be part of Coinbase’s regular internal operational adjustments. Such transfers are often used to reorganize assets within the exchange’s wallets, improve security, or manage liquidity. Coinbase has previously conducted similar transfers without affecting market conditions.

While the size of the transfer is notable, it does not appear to indicate any major shift in the exchange’s holdings or future market behavior. As the cryptocurrency market continues to grow, exchanges like Coinbase often engage in routine wallet adjustments to ensure that their assets are secure and properly distributed across their cold storage systems.

This internal reshuffling is unlikely to have a major impact on XRP’s broader market performance in the short term, but it does remain a point of interest for investors and analysts monitoring large transactions within the ecosystem.

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