Coinbase’s XRP reserves have witnessed one of the strongest collapses among major crypto exchanges, and this has caused questions as to where the tokens are going. According to on-chain data, the exchange’s cold wallets now hold only a fraction of the XRP they once did, and the decline is now more than 90%.

This comes at a time when the XRP community has been closely monitoring institutional activity, with growing rumors of BlackRock and other heavyweight firms quietly building exposure to XRP.

Coinbase’s XRP Holdings Crash By 90%

Recent moves by Coinbase with its XRP holdings have taken most crypto investors by surprise. Previous data showed that Coinbase, which was once the fifth-largest holder of XRP, has trimmed its XRP reserve balance from approximately 780.13 million XRP to

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