XRP Holdings: Binance and Coinbase Trail Behind Upbit

XRP holdings have taken center stage in the crypto space as new data highlights which major exchanges are stockpiling Ripple’s native token. Among them, Binance and Coinbase, two of the world’s most prominent cryptocurrency exchanges, are found to be significant XRP holders — though not the largest. The latest insights have revealed Upbit, the leading South Korean exchange, as the top holder of XRP among centralized platforms.

Industry analytics shared by the @XRPwallets account detail the holding distribution of XRP across various platforms. The findings spotlight Upbit at the top, storing a massive 6.038 billion XRP. This solidifies Upbit’s position not just in terms of market share but also as a primary corridor for XRP liquidity in Asia. Following closely behind, Binance claims the second spot with a balance of 2.735 billion XRP housed in its wallets.

Another noteworthy player is Uphold, an increasingly popular U.S.-based platform, now holding 1.907 billion XRP, ranking third among exchanges. Interestingly, Coinbase, a major U.S. exchange and publicly traded company, lags behind and sits in fifth place by XRP holdings with 780.13 million tokens in reserve.

XRP Distribution Across Major Platforms

In the broader distribution, various platforms also maintain substantial amounts of XRP. The following is the most up-to-date leaderboard for the top 10 XRP-holding exchanges:

• Upbit: 6.038 billion
• Binance: 2.735 billion
• Uphold: 1.907 billion
• Bithumb: 1.635 million
• Coinbase: 780.13 million
• Bitbank: 588.37 million
• Coincheck: 564.19 million
• Etoro: 503.79 million
• Crypto.com: 388.98 million
• Coinone: 299.6 million (recently added)

Additionally, it’s worth noting that SBI VC recently relocated 54.08 million XRP to Bitgo Init., hinting at possible strategic realignments.

Coinbase XRP Transfers Raise Eyebrows

In a separate event, Whale Alert, a prominent blockchain tracking service, reported two large XRP transactions totaling over 101 million XRP. Combined, the transfers amounted to approximately $230.8 million. These transactions involved two wallet addresses moving 50,527,326 XRP and 50,520,869 XRP respectively.

Digging deeper into these movements, it was revealed that both transfers relate to Coinbase. The first transaction turned out to be internal, sent from one Coinbase wallet labeled as “Coinbase 14” to another tagged “Coinbase 6.” The second, however, involved the transfer of XRP from a wallet associated with Bitstamp to Coinbase 14, adding another layer of complexity to the movement of funds.

The nature of these transactions suggests a focus on liquidity management, internal rebalancing, or preparation for institutional operations rather than external accumulation or sell-offs.

These developments reinforce XRP’s ongoing importance in the portfolios of centralized exchanges and spotlight how platforms like Upbit and Binance are positioning themselves as key players in XRP liquidity handling. Furthermore, these movements continue to draw attention from market watchers, offering insight into how XRP’s infrastructure continues to evolve across both Western and Asian markets.

Related: XRP Price: $12M Max Pain for Bears

As XRP strengthens its global footprint, understanding the distribution of holdings sheds light on how exchanges are preparing for the future of Ripple-based transactions, especially amid ongoing developments in regulatory and cross-border payment usage.