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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.
To clarify, Coinbase did not gain 5.5B $XRP. We just completed identification and labeling of 146 (previously unidentified) Coinbase wallets. They are now the #3 $XRP holder on the rich list: https://t.co/dcJHJNAXVf https://t.co/yNN3dtdWot
— XRPScan (@xrpscan) September 8, 2026
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.
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