While Coinbase’s XRP reserves are rapidly decreasing, the exchange’s Cardano (ADA) holdings have surged over 460% in less than four months.
According to Coinbase’s Proof-of-Reserves data, the exchange currently holds approximately 9.56 million ADA in reserves.
For context, these tokens are used to support Coinbase Wrapped ADA (cbADA) on the Base network, and the total supply currently stands at approximately 9.53 million cbADA. This marks a 462% increase since Coinbase launched the wrapped token in June with an initial supply of 1.7 million ADA.
Coinbase XRP Reserve
Cardano DRep reaction
In his post on X, Cardano DRep Dori drew attention to the stark contrast between Coinbase’s ADA and XRP reserves. He pointed out that while Coinbase’s ADA holdings have surged 462% since June, its XRP reserves have declined significantly from around 970 million tokens.
With current reserves at 16.38 million, this means Coinbase’s XRP holdings have decreased by 98% from 970 million.
Cardano DRep argued that Coinbase’s sharp increase in ADA holdings is indicative of two important trends within the exchange. He explained that this surge indicates growing demand for Coinbase’s wrapped ADA and highlights increased asset accumulation by institutions.
Based on his comments, the sharp decline in Coinbase’s XRP reserves suggests that institutional activity surrounding XRP on the exchange may be slowing down, or that demand for Coinbase Wrapped XRP may be limited.
As previously reported, several members of the XRP community have expressed concern about the sharp decline in Coinbase’s XRP reserves. Some have accused the exchange of deliberately reducing its holdings “to manipulate prices.”
On the other hand, some interpret the drop in XRP on Coinbase as bullish, as lower availability of the token on exchanges means less selling pressure.
$XRP analysis:
Over the past 90 days, @coinbase’s $XRP supply has decreased from 970,000,000 to 99,000,000 $XRP.
No one is ready for what happens next.
— Del Crxpto (@DelCrxpto) September 15, 2025
