Market observers have floated a theory that Coinbase inflows, even modest ones, could lift XRP higher because Coinbase’s reserve appears thinner than on other platforms. Proponents argued that Coinbase’s lower XRP supply could amplify small buy orders. Yet Coinbase’s own reserve disclosures complicate this view, showing 39.5 million XRP tokens instead of 3 million, which would undercut the low-supply argument. If the reserve is larger than some estimates suggest, the case for a price boost from modest inflows becomes less clear.
Separately, on-chain flow data show XRP moving off exchanges. Coinbase recorded $40.61 million in XRP outflows over the past week, while Upbit saw $83.46 million leave and Binance $37.01 million in outflows. Across venues, XRP is predominantly moving out, a pattern some interpret as accumulation or a sign that holders are not ready to cash out. In contrast to the outflow narrative, some observers warn that thin order books could still permit short-term price moves, especially if a large buy order appears on a single venue.
Overall, the broader trend is that XRP outflows are dominating, suggesting holders are not rushing to cash out. The longer-term outlook depends on global liquidity and evolving market dynamics rather than a single exchange’s inflow. While thin order books on a single venue could permit short-term moves, arbitrage would likely rebalance quickly.
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