Nearly $120 million of XRP just moved to Coinbase in whale transaction

A major $XRP transfer to Coinbase occurred today, potentially signaling that an investor is preparing to sell.

The movement involved roughly 89,828,700 $XRP, valued at about $119 million, and began from wallet address “rMWqYat3nJXSLoyqB5tUsfYp6KLgoMHXTN,” according to data source Whalealert.io. The funds were first sent to an intermediate wallet, “rwnYLUsoBQX3ECa1A5bSKLdbPoHKnqf63J,” before being forwarded to a Coinbase-associated address, rRmgo6NW1W7GHjC5qEpcpQnq8NE74ZS1P.

Such large-scale movements, often referred to as “whale transactions,” are closely monitored in crypto markets because they can hint at institutional or high-net-worth investor intentions. In many cases, inflows of this magnitude to centralized exchanges are interpreted as a potential signal that holders may be preparing to sell or rebalance their positions. This is because assets sent to exchanges are typically made more liquid and readily tradable than those held in direct custody in personal wallets.

That said, transfers to exchanges could also mean repositioning assets, engaging in over-the-counter settlement processes, or moving funds for custody-related purposes.

Still, the timing and size of the transfer is noteworthy for those trading the payments-focused cryptocurrency. As always in crypto markets, large movements can influence perception, even when their ultimate intent remains uncertain.

$XRP is trading at about $1.33, flat over the past 24 hours, but down more than 60% since peaking in the summer of 2025.

Source