XRPScan's labeling of 146 previously unidentified Coinbase wallets on the XRP Ledger pushed the exchange's reported holdings up 4,870.7 percent to 5.57 billion tokens. The explorer confirmed no new deposits occurred, attributing the change to improved wallet identification rather than whale inflows. Coinbase now ranks third among XRP holders with 5.68 billion tokens across 152 accounts.
Coinbase's XRP rich-list balance rose 4,870.7 percent to 5.57 billion tokens Sept. 8 after XRPScan labeled 146 previously unidentified exchange wallets, not new deposits.
XRPScan, the XRP Ledger explorer, said in a post on X that Coinbase "did not gain 5.5B XRP" and that the change followed completion of "identification and labeling of 146 (previously unidentified) Coinbase wallets." The clarification came after the XRP Rich List Bot, an automated tracker reporting hourly wallet changes, flagged what appeared to be the largest single-hour exchange inflow on record. No announcement of large-scale purchases or signs of fund transfers accompanied the balance change, prompting market participants to seek an explanation.
After the adjustment, Coinbase holds 5,683,635,165 XRP across 152 accounts, equal to 5.684 percent of total XRP supply, placing it third on the rich list. Ripple leads with 3,781,131,458 XRP in active balances plus 35.7 billion tokens in escrow across 26 accounts. Upbit ranks second with 6,416,060,312 XRP across 12 accounts, while Binance holds fourth with 2,608,237,482 XRP across 18 accounts. The reclassification vaulted Coinbase past Binance in the holder ranking, a shift driven entirely by data-labeling accuracy rather than token movements.
The reclassification is part of a platform overhaul XRPScan announced in August 2026 to deliver more accurate wallet data reporting. The explorer said the consolidation of Coinbase wallets was part of work to provide simpler and more precise data. The episode shows how automated rich-list trackers can create the appearance of sharp balance shifts when wallet ownership labels change, even when no tokens move on-chain. For analysts who monitor exchange inflows as a proxy for potential sell pressure, the distinction between actual deposits and labeling changes is material.
Separately, the XRP Ledger continues advancing technical amendments. Permission Delegation passed an independent security review by Cantina Security and the XRPL quality assurance suite. According to XRPScan data, fixCleanup3_3_0, a bundled fix amendment, is expected to activate on the XRP Ledger mainnet within two days if validator support remains above the required threshold. The Batch amendment is approaching the 80 percent support threshold at a current 71.43 percent consensus.
For traders monitoring XRP exchange flows, the episode shows that wallet-labeling changes on explorers can distort inflow metrics used to gauge potential sell pressure. The 5.5 billion tokens attributed to Coinbase were already held in its custody wallets, and the reclassification does not signal imminent liquidation. The practical takeaway is that rich-list and exchange-flow data should be cross-checked against actual on-chain transfers before drawing conclusions about whale behavior.
This article is for informational purposes only and does not constitute investment advice.
