Coinbase Surges Past Binance on XRP Rich List Amid Labeling Update

Coinbase has taken third place on the XRP Rich List after a labeling update revealed 146 previously unidentified wallets, adding 5.683 billion tokens to its total.

The sudden increase in XRP was initially misinterpreted as a massive purchase by Coinbase, but it was actually a result of XRPScan's update, which identified and labeled these hidden wallets.

This is not the first time XRPScan has had to correct wallet mislabeling, having previously shut down false claims of Elon Musk owning large amounts of XRP.

Coinbase now holds 5.684 billion XRP across 152 accounts, roughly 5.684% of the total XRP supply, with Ripple in first place and Upbit second.