XRP balances on Coinbase have plunged sharply as investors move coins off the U.S. exchange, sparking fresh debate about liquidity and what could come next for the token.
What’s happening
- Coinbase’s XRP holdings fell to roughly 101.86 million XRP by late March 2026 after what community members are calling a boycott of the platform.
- Crypto commentator Diana on X highlighted 30-day snapshots showing net outflows between about 20 million and 95 million XRP, suggesting holders are withdrawing funds to self-custody or other venues.
- Some analysts say Coinbase’s visible XRP supply has contracted by as much as ~90% over a few months — a figure being cited across social channels, though estimates vary.
Why investors are leaving
- The Exodus appears tied to controversy around the CLARITY Act and the role of major exchanges. Community posts say Coinbase has been involved in rejecting bill drafts in two separate cases, which critics interpret as the exchange blocking the CLARITY Act — an allegation framed by users as a reason for the boycott.
- Leaked claims that Coinbase sought millions of dollars from Ripple in 2019 to list XRP have also fueled distrust and accelerated outflows.
- Together, these narratives have intensified holder resistance and driven a shift toward self-custody.
Market implications
- Reduced on-exchange supply can tighten liquidity and (historically) influence price action in the following weeks or months. Diana warned a persistent withdrawal trend could leave Coinbase holding one of its lowest XRP reserve levels in years.
- If buying pressure returns while exchange balances remain low, the market could face a supply shock, amplifying price volatility.
Price outlook and analyst views
- Sentiment around XRP’s upside remains mixed and wide-ranging:
- Standard Chartered reportedly projects about $10.40 by 2027.
- Some models predict roughly $8 this year.
- Bullish forecasts extend to $40+ in the long run — a $40 XRP would imply roughly a $2 trillion market cap — and even $100 is discussed as a very long-term possibility if crypto adoption becomes truly global.
- Crypto commentator Don Digital Finance summarized the range as roughly $8–$40 for this cycle, with a conservative band of $5–$15 and a personal target of $28.
Bottom line
XRP outflows from Coinbase underscore growing friction between parts of the XRP community and perceived exchange or regulatory actions. The withdrawal trend has trimmed visible exchange liquidity and raises the possibility of stronger price moves if buying demand re-emerges. As always, claims about motives and leaked documents remain contested; investors should weigh these dynamics alongside broader market risks.
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