Coinbase's XRP Holdings Spike Due to Wallet Reclassification, Not New Demand

Coinbase's XRP holdings have surged by 5.5 billion tokens, but this is not due to an actual inflow or purchase.

The increase occurred on September 8 after a reclassification of previously unidentified wallets.

Blockchain explorer XRPScan confirmed that the change reflected updated wallet labels, moving tokens from unknown to Coinbase accounts.

This update improves transparency but does not indicate increased buying or affect Ripple's escrow schedule.