Coinbase Jumps to Third on XRP Rich List After Wallet Update

Crypto traders noticed a sudden and massive jump in the XRP holdings on Coinbase. The exchange balance appeared to skyrocket by nearly five thousand percent within a single hour, pushing the total past five billion tokens. This quick spike caused a lot of chatter online as people tried to figure out if a massive whale had just moved funds.

On chain data tracker XRPScan quickly stepped in to clear up the confusion. The platform explained that no new funds actually moved into the exchange. Instead, the sudden balance change happened because of a wallet identification update. The update simply added 146 previously unlabeled Coinbase addresses to the official exchange profile.

False alarms like this show how closely the community watches exchange reserves. Traders often track these balances to gauge potential selling pressure or market moves. While the five billion XRP figure caught everyone off guard, the situation is normal now that the correct wallet tags are in place.