Coinbase Jumps to Third on XRP Rich List Amid Surprise Balance Surge

Coinbase's XRP holdings have skyrocketed by a staggering 4,870.7%, according to data from X account XRP Rich List Bot.

The surge has pushed Coinbase into third place on the XRP rich list, surpassing Ripple and Binance in total XRP balance.

However, XRPScan clarified that this increase is not due to new buys or stashes of XRP being added to Coinbase's wallets.

Instead, the update was caused by a major revamp of its wallet identification system, which has brought 146 previously unidentified Coinbase wallets under Coinbase's recognized rich-list balance.

This move gives Coinbase a total of 5,683,635,165 XRP across 152 accounts, representing a 5.684% share of the XRP supply.