- Ripple moved 75 million XRP to Coinbase, but analysts say it may support institutional demand, not a sell-off.
- XRP stays steady near $1.44 as ETF inflows and futures activity continue rising.
Ripple has once again caught the market’s attention after transferring a large amount of XRP to Coinbase. While such moves often trigger fears of a sell-off, current data suggests a different narrative may be unfolding.
Ripple Transfers 75 Million XRP Through Multiple Wallets
On April 21, Ripple moved 75 million XRP valued at approximately $108 million. The transfer did not happen in a single step. Instead, the funds were routed through intermediary wallets before reaching Coinbase-linked addresses.
🚨 🚨 🚨 🚨 🚨 75,000,000 $XRP (107,058,283 USD) transferred from #Ripple to unknown wallethttps://t.co/sWWHqfjG51
— Whale Alert (@whale_alert) April 20, 2026
The XRP was split into five sub-wallets, each holding 15 million tokens. From there, two wallets sent a combined 50 million XRP to Coinbase sub-wallets tied to specific accounts.
This method is not unusual. Ripple often uses intermediary wallets to manage liquidity, support over-the-counter trades, and facilitate its On-Demand Liquidity (ODL) operations.
XRP ETF Activity May Explain the Transfer
Despite the size of the transaction, analysts are not convinced this signals a sell-off. Attention has shifted to the growing activity around XRP spot exchange-traded funds.
Since April 10, XRP ETFs have recorded consistent daily inflows totaling $67.47 million. This steady demand has led to speculation that Coinbase may be acting as a custodian or facilitator for institutional buyers.
Under this view, Ripple could be supplying XRP to meet large-scale demand rather than offloading its holdings. Coinbase’s role as a distribution hub for institutional flows further supports this possibility.
XRP Price Holds Steady as Market Watches Key Levels
XRP is trading at around $1.44 at the time of writing, reflecting a 1.6% daily increase. The price recently tested the $1.50 level and is now moving within a tight range between key moving averages.
Trading activity has slightly declined, with volume dropping by 12% over the past day. However, derivatives data show growing interest. Futures open interest has climbed to $2.60 billion, indicating continued participation from traders.
Analysts are now watching for a breakout from the current pattern, which could define XRP’s next direction.
Market Reaction Remains Cautious
Large transfers to exchanges often raise concerns among investors. Previous XRP sales by Ripple executives have also contributed to this cautious sentiment.
However, Ripple has repeatedly emphasized that XRP remains central to its long-term strategy. The company continues to expand its institutional partnerships, which may explain the movement of funds.
For now, the data points to a more complex picture. Rather than a simple sell-off, the transfer could reflect rising institutional demand and evolving market infrastructure around XRP.
ALSO READ: Ripple Introduces 4 Phase Quantum Roadmap for XRP Ledger by 2028
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