Coinbase's XRP Holdings Surge on Wallet Reclassification

Coinbase's XRP holdings have skyrocketed by over 5.5 billion units overnight, but this is largely due to a reclassification of previously unknown wallets rather than an actual increase in investment.

According to data from XRPScan, the exchange now holds approximately 5.68 billion XRP across 152 accounts, which has caused speculation about a large accumulation of the asset.

However, much of this amount represents pooled customer funds, not Coinbase's own investment.

XRP's price has risen around 2.7% in the past 24 hours amid positive regulatory developments.