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Could Coinbase Be Manipulating XRP Prices? Here’s Why It’s Unlikely!
Recent data from blockchain trackers reveal a significant reduction in Coinbase’s XRP holdings, sparking a mix of surprise and speculation among crypto investors. This substantial decrease, which saw the exchange’s stash dip from over 780 million XRP to under 200 million in just weeks, has prompted discussions around potential market manipulation. However, pro-XRP lawyer Bill Morgan challenges these allegations, providing a fresh perspective on the ongoing narrative.
A Deep Dive into the XRP Holdings Slash
Coinbase’s decision to cut down its XRP reserves by 69% since the second quarter of 2025 has notably altered its position in the crypto exchange echelons, moving it from the fifth-largest holder to just making the top ten. This drastic change aligns with a 57% reduction observed over the past month alone. The timing and manner of these sales, primarily through OTC desks linked to prominent New York institutions, coincide with notable dips in XRP’s price, stirring suspicions among community members.
A social media account under the name Stern Drew on platform X has further fueled these speculations. The user detailed that around 40% of the outflows targeted low-liquidity trading hours, potentially to mask the true extent of the transactions. Moreover, some of the offloaded XRP reportedly landed in custodial wallets associated with BlackRock, hinting at deeper institutional plays.
Bill Morgan’s Counterarguments to Manipulation Claims
In response to the swirling rumors, pro-XRP news advocate Bill Morgan was quick to dismiss the idea that Coinbase’s actions were manipulative. He emphasized that XRP’s price movements are consistent with historical trends, even during periods when Coinbase had delisted the cryptocurrency, suggesting no direct influence from the exchange on market prices.
Morgan pointed out that XRP has been trading within a narrow range of $2.8 to $2.9 recently, with brief fluctuations above and below this channel. Despite losing the $3 support level, XRP has resiliently held above $2.8, indicating that the market might be reacting to broader cryptocurrency dynamics rather than specific institutional strategies.
Market Outlook and Key Resistance Levels
Looking forward, the critical resistance level for XRP stands at $3.10. A strong push above this threshold could pivot the market sentiment in favor of bullish investors. Until such a breakthrough occurs, XRP is likely to continue its consolidation pattern, navigating the familiar terrains between $3.10 and $2.8.
For further insights into XRP’s market dynamics and potential future trends, consider exploring related cryptocurrency analyses and keeping an eye on broader market indicators. Those interested in expanding their investment portfolio can also check out opportunities via Binance.
Conclusion
While the significant reduction in Coinbase’s XRP holdings does raise eyebrows, the evidence pointing towards deliberate price manipulation remains inconclusive. Market watchers and investors alike should maintain a balanced view, considering both historical data and current market behaviors, before jumping to conclusions about the motivations behind such large-scale transactions.
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