- Coinbase shifts 26.89M XRP internally hinting at possible institutional activity.
- XRP trading volume drops 34.72% as price slips below key resistance at $2.18.
- Circulating supply holds at 58.88B while short-term support forms near $2.10.
A major internal XRP transaction was executed by Coinbase on June 15, 2025, involving the movement of nearly 27 million tokens between its wallets. The transfer, valued at over $57 million based on current market prices, was processed at 03:06:22 AM UTC and finalized in ledger 96,815,927. Blockchain records confirm the movement originated from a cold storage wallet labelled “Coinbase (Cold 48)” and was directed to another Coinbase-managed address marked with Destination Tag 1, typically associated with institutional accounts.
The precise amount transferred was 26,896,993.010767 XRP. The transaction was completed without deviation and carried a negligible fee of just 0.00001 XRP. On-chain data also shows the full amount was successfully delivered and indexed at position 17 within the ledger. No external wallets were involved in the transfer, indicating that it was an internal operation related to liquidity rebalancing or custodial positioning.
Institutional Activity May Be Underway
The transaction hash associated with the move is 5374E899EFF9AB3F8A486BF0DB56ED2E3154A6504BE6D70780D8B7ABAB, while the CTID identifier is C5C54B3700110000. Given the use of Destination Tag 1 and the lack of third-party involvement, the transfer appears to be institutional. Similar transactions in the past have aligned with preparations for increased institutional trading or settlement processes.
Large internal transfers between cold and institutional wallets are often seen as signals of operational activity behind the scenes. While such movements do not directly impact market liquidity in the short term, they can precede new inflows or settlement events. The absence of retail wallet interaction further supports the notion that this was a deliberate, structured reallocation rather than a public-facing withdrawal or deposit.
XRP Faces Price Pressure Despite Broader Market Optimism
As of the time of the transaction, XRP was trading at $2.15, representing a 0.75% drop in the previous 24 hours. The token experienced a decline during the time of writing, with an intraday high of approximately $2.1754 during the afternoon session, followed by a fall to around $2.11 in the evening hours. While short-term recovery attempts pushed the price back to $2.16 in the early hours of June 15, momentum has remained weak.
The 24-hour trading volume also demonstrated a significant decrease, dipping by 34.72 percent to $1,7 billion. This volume reduction is an indicator of reduced short-term trader activity. According to the market data on CoinMarketCap, the current market capitalization of the XRP is 126.97 billion, with its fully diluted valuation being 215.65 billion. The ratio of the volume to the market capitalization shows 1.34%, and it is a reasonably low scale of liquidity against the lower level of market activity.
Circulating Supply and Market Structure
XRP’s circulating supply is now recorded at 58.88 billion tokens. The total supply remains slightly below its maximum cap, standing at 99.98 billion out of a theoretical limit of 100 billion. This confirms that a small portion of the token supply is still held off circulation.
The current technical setup places short-term support at $2.10, with near-term resistance identified around $2.18. While broader crypto market conditions have recently leaned positive, XRP’s price behaviour and trading activity indicate a temporary cooling phase that investors are closely watching.
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