Coinbase XRP Balance Explodes as Exchange Surges to Third Spot

Coinbase has seen its XRP holdings surge by an astonishing 4870.7% on the XRPL Rich List Bot, according to an hourly update.

The exchange now boasts a balance of over 5.6 billion XRP across 152 accounts, taking it to third place on the rich list.

However, this dramatic increase is not due to new buys or a massive influx of XRP into Coinbase's wallet.

In fact, XRPL explorer XRPScan revealed that the update was simply the result of a major update to its wallet identification system.

XRPScan had just completed the identification and labeling of 146 previously unidentified Coinbase wallets, which brought their XRP holdings under Coinbase's recognized rich-list balance.