XRP Exodus Accelerates as Coinbase Leads Withdrawal Wave

XRP's withdrawal trend from major exchanges has accelerated, with Coinbase leading the way. The US-based exchange saw a net wallet count of negative 14,300 XRP over the past seven days, indicating that more wallets withdrew tokens than deposited them.

This trend is not isolated to Coinbase and reflects broader behavioral change among XRP holders. Binance and Crypto.com also reported negative net wallet counts of -3,270 and -2,680 respectively, suggesting a sustained shift in user behavior.

The data from analyst Amr Taha shows that Coinbase alone accounted for 47.3% of the total absolute seven-day net wallet imbalance as of August 18. This is the highest proportion attributed to the exchange since July 2024.

Market analysts remain divided on XRP's near-term trajectory, with some predicting further decline and others anticipating a potential strong breakout from the current retest zone toward price targets of $8, $13, and $27.