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Major crypto exchange Coinbase appeared to record a massive surge in its XRP holdings, according to X account XRP Rich List Bot, which posted an hourly update showing Coinbase's XRP balance rising 4,870.7% to 5,569,165,957 XRP.
The surge coincided with no announcement of new buys or of Coinbase receiving the massive stash of XRP, causing popular XRPL explorer XRPScan to set the record straight.
The clarification remains necessary given that the XRP Rich List Bot is an automated monitoring bot for XRP-rich wallet balances, which reports hourly tracking of significant wallet changes, making it crucial for XRPScan to add the right context.
Clarifying the 4,870% increase, XRPScan noted that Coinbase did not gain 5.5 billion XRP. The change was rather caused by a major update to its wallet identification system; XRPScan stated it had just completed the identification and labeling of 146 previously unidentified Coinbase wallets.
The update brought those XRP holdings under Coinbase's recognized rich-list balance. As a result, Coinbase moved into the No. 3 position on the XRP rich list.
In August 2026, XRPScan announced a revamp of its platform, with the recent consolidation of the Coinbase wallets being part of its efforts to provide streamlined and accurate data reporting.
Coinbase now boasts a 5,683,635,165 XRP balance, or a 5.684% share of XRP supply, across 152 accounts, taking the 3rd spot on the rich list. Ripple leads the rich list with a 3,781,131,458 XRP balance and 35,700,000,000 XRP sitting in escrow across a total of 26 accounts. Upbit sits in second spot with a 6,416,060,312 XRP balance across 12 accounts. Binance ranks fourth with a 2,608,237,482 XRP balance sitting across 18 accounts.
XRPL news
In a recent development, Permission Delegation on the XRP Ledger has passed an independent security review by Cantina Security and the XRPL quality assurance test suite.
According to XRPScan data, fixCleanup3_3_0, a major bundled fix amendment, is scheduled to activate on the XRP Ledger mainnet in the next two days if validator support remains above the required threshold.
In a separate development, the Batch amendment is closing in on a majority, nearing 80% support with a current 71.43% consensus.
Dan Burgin
U.Today Editorial Team
