Coinbase Rockets to Third Spot on XRP Rich List After Wallet Update

Coinbase's XRP balance saw an astonishing surge of 4870% in its rich list ranking, according to X account XRP Rich List Bot.

The update reported Coinbase's XRP balance rising from an unknown amount to 5,569,165,957 XRP, placing it third on the XRP rich list. However, this significant increase was not due to new buys or a sudden influx of XRP into Coinbase's wallets.

XRPScan clarified that the change was caused by a major update to its wallet identification system, which led to the labeling and recognition of 146 previously unidentified Coinbase wallets containing XRP.

This move catapulted Coinbase from an unknown position on the rich list to third place, with a total balance of 5,683,635,165 XRP across 152 accounts.