Ripple Hits Coinbase with $108 Million XRP Transfer: Is Company Selling Its "North Star"?

A large transaction has been recorded on the crypto market, where 75 million XRP, about $108 million at the current rate, was transferred from Ripple wallets to the Coinbase exchange. Despite the scale and nature of the transfer, there are calls not to rush to conclusions about a "sell-off", instead viewing the incident through the lens of the company's updated business model. According to Whale Alert and XRPWallets, the funds passed through a chain of Ripple sub-wallets before part of them was deposited on Coinbase. The transaction occurred while XRP is trading around $1.44. The chart shows pressure; however, the asset is holding key support levels.

Why the $108 million Coinbase move supports Ripple's "North Star" strategy

The transfer coincided with recent statements from management that XRP remains the "North Star" of their ecosystem. Therefore, instead of classic dumping, experts see this movement as market depth management.

Ripple 50 to Ripple 50 Subwallet then sent to multiple Subwallets, some amounts leading to Coinbase Subwallets.

— XRP\_Liquidity (@XRPwallets) April 21, 2026 The transaction also aligns with local accumulation in spot XRP ETFs. Since April 10, each day has ended with inflows totaling $67.47 million. Large transfers to Coinbase may be linked to the exchange's role as an authorized participant or custodian. In this case, Ripple is not "selling" its North Star, but supplying the market with the necessary volume of the asset to avoid price gaps during the execution of large fund orders. In addition, in 2026, as Ripple actively integrates its services with institutional custodians, Coinbase often acts as a "hub" for distributing  into ODL (On-Demand Liquidity) corridors. Most likely, what we are seeing is not an exit to cash, but a refueling of the "fuel tank" for large institutional maneuvers.