$63M XRP Suddenly Lands on Coinbase—But It’s Not What Everyone Expected

A massive XRP transaction has sparked intense speculation after blockchain tracker Whale Alert reported a sudden movement of funds to Coinbase. The transfer involved 29,532,534 XRP tokens, valued at over $63 million at the time of the transaction.

The crypto community was quick to assume that the transfer was initiated by a whale preparing for a large-scale sale. The mystery surrounding the sender’s wallet contributed to market concerns because the sender’s identity remained unknown.

New information obtained from on-chain analysis presents a contrasting perspective. Blockchain explorer Bithomp reports that Coinbase executed the XRP transaction, which debunked concerns about whale-led sell-offs.

The exchange moved the funds internally within its system instead of receiving them through external sources. The movement of funds between wallets at Coinbase supports internal fund management operations instead of indicating upcoming mass sales.

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Back-to-Back XRP Transfers Raise Questions, but Data Tells a Different Story

Besides, the movement came just days after another high-profile XRP transaction shook the market. On April 14, Whale Alert tracked a transfer of 70 million XRP worth more than $150 million between wallets linked to Ripple.

Bithomp verified that the wallets belonged to Ripple’s On-Demand Liquidity platform. Ripple’s technology provides global payment services through instant transfers, yet high transfer volumes are needed to work correctly.

Numerous observers reassessed their understanding of whale behaviors because of when these transactions occurred. When analyzed carefully, the data revealed structured operational activity, which sparked initial skepticism toward these movements.

Recent data showing Coinbase’s involvement in this latest transaction indicates that most funds moved within the company rather than being exchanged in the public market. All data points to the fact that the tokens remained on the platform, as there is no evidence showing they were sold or transferred from the platform.

The earlier transaction included Ripple-related wallets to prove that institutions controlled the movement of funds. Ripple conducts significant XRP transactions that establish liquidity networks across worldwide locations.

These back-to-back events reflect the scale at which XRP is still being used in enterprise-level solutions. As more on-chain tracking tools become accessible, clearer blockchain visibility is challenging assumptions about wallet activity.

Conclusion

Although the $63 million XRP movement to Coinbase raised alarms, data shows it was an internal transfer by the exchange. With Ripple actively managing its XRP reserves, both transactions point to routine operations—not surprise sales.

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