With Ripple scoring multiple victories in 2025, a new all-time high of $3.65 came naturally with consistent trading volumes, making crypto platforms up their stake in the OG altcoin. However, Coinbase’s XRP reserves had dwindled from 2.53 million in September to 1.31 million today.
This follows a broader trend for the largest American crypto exchange, despite competing platforms like Gemini actively integrating XRP’s utility. A few months back, Coinbase slashed their XRP wallet count from 60 to 10 cold & hot wallets. Despite increasing the wallet count in November, Coinbase has also been actively cashing out last weekend.
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This states a completely opposite trend to competing popular competing exchanges like Binance, Bybit or MEXC. To illustrate, Bybit upped their XRP reserves from approximately 36 million to 458 million in Ripple coins at the beginning of 2025, once Ripple’s outstanding case versus the United States Securities and Exchange Commission (SEC) reached a solution.
Coinbase Losing Grip On XRP’s Derivatives?
The statistics on Derivatives tell it all: Coinbase has been heavily losing market dominance on leveraged markets, counting up just $91.98 million in trading volume in 24 hours. Clearly, this market has been taken over by a few fresh names, including a traditional stock exchange.
Indeed, the Chicago Mercantile Exchange (CME) gathered beyond $1.1 billion in Open Interest (OI). Simply put, the OI-weighted funding rate heavily depends on the market players’ interest in speculating on the underlying asset’s price. Picking up a 22% hike in 24 hours, the OI, or unsettled plays, are nearing $5B, while XRP’s Futures daily trading volume topped $9.79B.
With XRP’s price whipping up 12% gains on Monday to nail the $2.55 resistance level, $6 million worth of short positions on XRP coin had been wiped out in 24 hours, declaring a victory to XRP’s bulls in spite of $3.9 million in excessively-leveraged XRP price plays liquidated, says real-time data from CoinGlass.
Naturally, with a lesser demand for XRP trading, Coinbase had slimmed their XRP holdings to the bare minimum. The 1,319,105 Ripple coins on-balance also hint at a bigger trend among large players to keep their altcoin stash on self-custodial crypto wallets rather than major exchanges.
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People Also Ask:
XRP’s price just blasted past $2.55, but Coinbase’s reserves crashed 90%—from 970 million to ~99 million tokens since June—traders are fleeing.
Coinbase is losing the XRP perpetuals war: its futures volume <$100M vs. Binance/Bybit/MEXC/CME crushing $1B+ daily—deeper liquidity pulls whales away.
Not really—users are withdrawing to trade Derivatives (Futures etc.) elsewhere; Coinbase just holds less as traders chase better leverage and fills on rivals.
Not yet—off-exchange accumulation is up, ETF filings are live, and CME’s institutional futures are fueling the rally despite Coinbase’s drain.
If you trade perps, yes—Bybit/Binance offer tighter spreads. For HODLing, chill: price action > exchange drama. Keep calm & read DailyCoin.
