As a huge Ripple coin (XRP) haul floods Coinbase, tanked prices follow. Registered yesterday evening by the crypto whale tracking Whale Alert, this 16,594,920 XRP token transfer from a self-custodial crypto wallet to Coinbase sparked immediate community reaction, as it surely looked like a sell-off.
What’s Behind XRP’s $60M Coinbase Influx?
Upon further research, this transfer appears to be a piece of a bigger puzzle that has been going around all summer. Starting from June, 2025, 23 crypto wallets shuffled similar amounts of Ripple (XRP) coins from DeFi wallets to Coinbase’s hot wallets, reducing the cumulative balance by nearly 380 million Ripple coins since the beginning of summer.
This most likely implies a crypto whale pre-sale move, but does it reflect an ongoing trend? Critical whale behavior stats show us that this potential $60 million XRP sell-off is more of an exemption, rather than a rule. The CMF stood at 0.05, a slightly positive territory, testifying to the fact that crypto whales are back accumulating XRP positions at $2.95.
However, the recent price shortfall from $3.65 to below $3 has manifested itself in a 18.8% monthly dip, flipping the script into bearish. On the way to conquering the $3 price tag, XRP’s price will have to overcome this bearish resistance, portrayed in the Parabolic Stop & Reverse (SAR) with the blue dots fluctuating above the current price of the popular remittance altcoin.
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A whale transfers 16,594,920 XRP tokens, worth about $60M, to Coinbase, flooding the exchange with sell orders. Consequently, this surge in supply overwhelms demand, driving XRP’s price down below $3.
Ciphera, leveraging blockchain whale tracking agencies, identifies a pattern since early summer where 380M XRP tokens move from 23 self-custodial wallets to Coinbase. By analyzing on-chain data, they note a 60% drop in Coinbase’s visible XRP balance, suggesting these transfers reflect either client withdrawals or internal wallet reshuffling.
The influx of 16.59M XRP tokens creates intense selling pressure, outpacing buyer interest. As a result, XRP’s price slides, with market liquidity struggling to absorb the volume, aligning with broader volatility from whale-driven activity.
The 380M XRP transfers since summer signal a shift to self-custodial wallets, hinting at long-term holding or strategic repositioning. However, some traders fear a bearish correction, while others see whale accumulation at $2.82 as a potential bullish setup.
Track the $3 resistance level & whale transactions closely. Additionally, watch October’s ETF decisions and Coinbase’s reserve changes, as the currently twisted crypto market trend could signal either a rebound rally or further downside.
