Overview
- Ripple routed 75 million XRP worth about $107–108 million on April 20–21 through intermediary wallets, with 50 million reaching two Coinbase custody addresses and roughly 25 million remaining elsewhere.
- The tokens were split into five sub-wallets of 15 million XRP each, and two of those wallets sent 25 million apiece to Coinbase accounts labeled 8 and 4.
- Market watchers point to uninterrupted spot XRP ETF inflows totaling $67.47 million since April 10 and suggest Coinbase may be staging inventory as a custodian or authorized participant.
- XRP trades near $1.44 after a small daily gain, with futures open interest around $2.60 billion and 24-hour spot volume down about 12%.
- Ripple often uses multi-step wallet routes to manage liquidity, support over-the-counter deals, and run its On-Demand Liquidity service, though exchange-directed moves draw scrutiny after past executive sales.