Coinbase Rises to Third on XRP Rich List After Wallet Labeling Update
- On September 8, Coinbase’s XRP wallets showed a +4,870% increase in reported holdings due to wallet re-tagging.
- Coinbase now holds approximately 5,683,635,165 XRP across 152 accounts, representing about 5.684% of the total XRP supply.
- The increase was attributed to the identification of 146 previously unidentified wallets, not new purchases.
- Ripple remains the largest holder with 35.70 billion XRP, followed by Upbit with 6.416 billion XRP.
- XRPScan confirmed that the surge was a labeling update rather than an actual inflow of new tokens.
The recent update clarifies that Coinbase’s significant jump in reported XRP holdings is primarily due to improved wallet identification rather than increased market activity or demand for XRP.
As a result of this labeling event, Coinbase has solidified its position as the third-largest holder of XRP with over 5.68 billion tokens. This adjustment highlights the importance of accurate wallet tracking in understanding cryptocurrency custody data.(Source)
