Coinbase’s $57M XRP Wallet Reshuffle: Initial Sell-Off Fears Dispelled as Internal Transfer

A significant transfer of 25.5 million XRP, valued at $57 million, initially sparked concerns of a potential whale sell-off on July 3, 2025. Blockchain tracker Whale Alert flagged the movement to Coinbase, leading to market speculation. However, further analysis revealed that the transaction was part of Coinbase's internal wallet management strategy, with the tokens being redistributed across the exchange's cold wallets. This clarification alleviated fears of a large-scale sell-off, demonstrating the importance of transparent blockchain tracking and exchange operations in maintaining market stability.

Coinbase's $57M XRP Wallet Reshuffle Sparks Initial Sell-Off Fears, Later Clarified as Internal Transfer

A 25.5 million XRP transfer worth $57 million triggered market speculation before being identified as part of Coinbase's internal wallet management. Blockchain tracker Whale Alert initially flagged the July 3 movement to Coinbase as a potential whale sell-off signal, but subsequent analysis revealed the tokens were being redistributed across the exchange's cold wallets.

XRPwallets data shows the transaction originated from Coinbase itself, with approximately 3.88 million XRP allocated to multiple cold storage addresses. This marks the third such operational transfer by the exchange in two weeks, following patterns previously associated with Coinbase Cold Wallet 108. The consistent behavior suggests strategic liquidity management rather than impending market pressure.

Market observers note these movements could relate to institutional on-demand liquidity preparations, though Coinbase hasn't officially disclosed the rationale. The clarification helped stabilize XRP markets after initial volatility, demonstrating how exchange operational activities can temporarily mimic whale sell patterns.

Wormhole's Price Rally Faces Resistance Amid Coinbase Listing and Ripple Partnership

Wormhole [W] has established a bullish structure on its 1-day chart, but the $0.07 demand zone remains critical for maintaining upward momentum. The token's recent 12% rally followed a strategic partnership announcement with Ripple, aimed at integrating multi-chain interoperability with the XRP Ledger. However, IntoTheBlock data reveals 89% of holders are currently out of the money, creating potential selling pressure during recovery attempts.

Coinbase's decision to list Wormhole as an SPL token on Solana's network provided short-term bullish impetus, though the token's $333 million market cap suggests limited sustained impact. A brief breakout above $0.08 resistance on June 28th failed to hold, with price action subsequently retracing. Market observers now question whether this represents a genuine structure break or simply a liquidity hunt.