Coinbase loses control of key holdings, XRP price war heats up

Against the backdrop of changes in the market structure, Coinbase's XRP holdings have declined compared to its competitors, and recently its wallet has transferred 17.8 million XRP (worth $52.68 million). Although XRP was accused of market manipulation after the 581 million XRP reserves decreased, XRP still ranks in the top five of Layer 1 assets by trading volume, with trading volume of $5.48 billion (up 22.97% in 24 hours). XRP’s price reached $3.02 at the end of August and is currently hovering around $2.86, still up 440% year-on-year. Whale activity is rising and falling, and institutional investors are increasingly interested as new futures ETFs and potential spot ETFs apply.