Coinbase Sees $58M XRP Whale Transfer as Market Defies Sell-Off Fears
In a striking display of market resilience, a Ripple whale transferred 26.6 million XRP (worth ~$58M) to Coinbase on June 20, 2025, without triggering the expected price dip. Blockchain tracker Whale Alert reported the substantial movement from an unknown wallet, which typically precedes sell pressure. Contrary to expectations, XRP's price held firm at $2.16 despite broader crypto market volatility fueled by geopolitical tensions and liquidations. Analysts highlight this as evidence of XRP's growing stability, as it outperformed peers during turbulent conditions. The transaction underscores institutional-scale activity on Coinbase while demonstrating the asset's ability to absorb large transfers without destabilizing effects – a bullish signal for XRP's maturation in digital asset markets.
Ripple Whale Transfers $58M in XRP to Coinbase Amid Market Resilience
A significant transfer of 26.6 million XRP, valued at approximately $58 million, was made to Coinbase from an unknown wallet, as reported by blockchain tracker Whale Alert. Such movements typically signal potential sell-offs, yet XRP's price held steady at $2.16, defying expectations.
Market analysts highlight XRP's resilience, particularly as other cryptocurrencies faltered amid geopolitical tensions and liquidations. Social media sentiment is split, with some traders warning of an impending dump while others view the stability as a sign of market maturity. Optimism around a potential spot XRP ETF and institutional buying may be underpinning the token's strength.
XRP has been on a notable rally since November 2024, further fueling speculation about its long-term trajectory. The absence of price movement post-transfer suggests underlying demand or strategic accumulation by large holders.
XRP Holds Above $2 Amid Profit-Taking Wave
XRP has defied expectations by maintaining its position above the $2 mark, even as long-term investors cash in on gains exceeding 300%. The token, which traded below 60 cents in October 2024, now faces resistance at $2.20 despite favorable regulatory developments.
On-chain data reveals a surge in profit-taking activity, with $68.8 million in daily realized profits recorded in early June—the highest level in over a year. A notable whale transaction involving $58 million worth of XRP moved to Coinbase failed to dent the token's stability, underscoring resilient demand.
Supply pressure from early holders continues to create headwinds for further price appreciation. Market participants are watching whether XRP can consolidate above $2 before attempting another breakout.
JPMorgan Launches JPMD Deposit Token on Coinbase’s Base Blockchain
JPMorgan Chase is making a strategic leap into blockchain-based financial infrastructure with the launch of JPMD, a deposit token developed in collaboration with Coinbase. The token will operate on Base, Coinbase’s ethereum Layer-2 network, targeting institutional clients for 24/7 settlement and cross-border payments.
Unlike stablecoins, JPMD represents blockchain-managed bank deposits rather than being pegged 1:1 to fiat reserves. This distinction allows corporations and pension funds to treat it as a balance sheet asset while operating within existing banking regulations. The MOVE signals Wall Street’s growing embrace of blockchain efficiency without abandoning regulatory compliance.
The initiative faces formidable competition in a market dominated by Tether’s USDT ($165.58B supply) and Circle’s USDC ($61.17B supply), which collectively facilitate $4.1T in annual transactions. JPMorgan’s entry could accelerate institutional adoption of blockchain settlement, leveraging Coinbase’s crypto expertise and the bank’s existing corporate relationships.
