Coinbase Drops Out of Top 10 XRP Holders - Bill Morgan’s Delisting Jabs Spark Market Chatter
Coinbase just got knocked out of the elite XRP holder club—and the crypto world is buzzing. The exchange's dwindling XRP reserves signal a strategic shift that's raising eyebrows across the industry.
Legal expert Bill Morgan didn't hold back with his trademark wit, quipping about the potential implications for XRP's future on the platform. His comments hit social media like a lightning bolt, fueling speculation about whether this is a temporary blip or a precursor to something bigger.
Market analysts are watching the wallet movements like hawks, noting that large holders shuffling positions often precedes major price movements. Meanwhile, retail traders are left wondering if they should follow the smart money or double down on their convictions.
This isn't just about portfolio adjustments—it's about confidence, liquidity, and the delicate dance between exchanges and the assets they list. Because nothing says 'trust the process' like watching a top-tier exchange quietly reduce exposure while maintaining public support.
- Coinbase XRP reserves drop 85%, exiting top 10 exchanges
- Holdings fall from 884M to 132M in two months
- Bill Morgan jokes about a “delist by holding none”
Coinbase’s XRP reserves continue to shrink. According to the Twitter account XRP Liquidity, Coinbase has now fallen out of the top 10 exchanges by XRP holdings, after its reserves dropped by a staggering 85% in just two months.
Coinbase’s XRP Reserves Plunge 85%
Two months ago, Coinbase was the fifth-largest XRP holder among exchanges, with 884.3 million XRP. As of yesterday, that number has fallen to just 132.4 million XRP, surprising many in the XRP community.
Top 10 Exchanges XRP holdings
1. Upbit 5.871B
2. Binance 2.822B
3. Uphold 1.739B
4. Bithumb 1.655M
5. Bitbank 575M
6. Coincheck 555.4M
7. Etoro 472.3M
8. Cryptocom 378.7M
9. Coinone 295.18M
10. Kraken 185.13M
Dropped from Top 10
Coinbase 132.4MSBI VC 61.7M https://t.co/gfMYwntrL4
Currently, the largest XRP holders among exchanges are:
- Upbit: 5.87 billion
- Binance: 2.82 billion
- Uphold: 1.74 billion
- Bithumb: 1.66 billion
- Bitbank: 575 million
Other exchanges holding significant amounts include Coincheck with 555 million, eToro with 472 million, Crypto.com with 379 million, Coinone with 295 million, and Kraken with 185 million.
Bill Morgan Jokes About Coinbase
In response to Coinbase dropping out of the top 10 XRP holders, Attorney Bill Morgan quipped that the exchange might “delist XRP again—this time by not holding any.”
Maybe it will delist XRP again, this time by not holding any.
https://t.co/SjBgKTA2LI
Coinbase’s relationship with XRP has been marked by regulatory challenges.
In response to the U.S. SEC lawsuit against Ripple Labs, Coinbase had suspended XRP trading on January 19, 2021. Further, in January 2023, Coinbase had announced that it would delist XRP, along with Bitcoin Cash, ethereum Classic, and Stellar from its wallet due to “low usage.”
After a federal court ruling that XRP sales on exchanges did not qualify as securities, Coinbase resumed XRP trading in July 2023.
Coinbase’s Moves Show Support for XRP
While XRP reserves have dropped, Coinbase has not signaled any plans to remove the token from its platform.
In fact, just recently Coinbase launched 5x leverage perpetual futures for XRP, signaling renewed interest in the token. CEO Brian Armstrong also celebrated it saying “great progress on U.S. perpetual futures”.
Recently, there was also speculation within the community about potential price manipulation by Coinbase. However, Morgan dismissed these claims and said that pointed out that XRP’s price has moved in much the same way even during the years Coinbase had delisted the asset.
