Coinbase XRP Reserves Fall Comot ~90% for Cold Wallet Shift
Coinbase XRP stash don drop sharply from about 970 million for June down to around 65.6 million come mid-September, almost 90% fall. On-chain data show say 48 out of 52 cold wallets wey dem dey track now get zero balance, while di remaining four each carry about 16.4 million XRP. Plenty off-chain movements join funds together, one big weekend move of 16.5 million XRP show this well well. Di visible outflows dey cause talking whether Coinbase na reshuffle custody addresses them dey do or dem dey quietly help institutions pile up XRP. Even with the drop for on-exchange XRP, no big sell-side activity show. Reduced exchange liquidity fit make order-book shallow and fit cause short-term price wahala. Traders suppose dey watch on-chain transfers and wait for official talk about custody changes to sabi if na real market demand or just normal security moves.
Bullish
Di near 90% reduction for Coinbase XRP reserves don remove serious supply from exchange order books, wey fit tighten liquidity and cause price to climb. The way dem dey put the tokens for fewer cold wallets and big off-chain transfers show say na institutions dey dey gather, no be to sell straight. Short term, less XRP liquidity on exchange fit raise volatility as less tokens dey ready to catch market orders. Long term, if big holders dey build position with Coinbase custody rails, steady demand against small visible supply fit push XRP price go up.