The well-known blockchain tracker whale alert, which monitors large cryptocurrency transfers, discovered a massive crypto transaction that took place earlier today, carrying tens of millions of dollars worth of XRP. The destination was Coinbase, the largest cryptocurrency exchange in the United States.
This was the second major XRP transfer that this data source has reported so far this week.
29,532,534 XRP moved to Coinbase
The Whale alert revealed that a total of 29,532,534 XRP tokens worth $63,810,782 at the time of transfer, and a total of 29,532,534 XRP tokens have been scrapped by US-based Crypto trading venue Coinbase. The transaction was initiated by an anonymous digital wallet.
🚨🚨🚨29,532,534 #xrp (63,810,782 USD) transferred from unknown wallet to #coinbasehttps://t.co/iyh3g3b6i6
– Whale Alert (@Whale_Alert) April 15, 2025
Many XRP enthusiasts in the comments assumed that this anonymous whale deposits XRP for a massive sale. However, the data provided by the Bithomp XRP-focused Explorer indicates that the XRP transfer was initiated by Coinbase itself.
On April 14, Whale Alert discovered a transaction carrying around 70,000,000 XRP, about twice the amount of crypto, worth $150,361,090. The same on-chain analytics data source (Bithomp) as above revealed that this large XRP chunk was transferred between two wallets associated with Ripple, revealing that it is likely that an ODL transfer in Ripple Payments systems running on RippleNet using XRP.
