On-chain data has sparked intense debate and concerns in the crypto market after it emerged that XRP supply on Coinbase fell by 90%, while reserves on Binance fell to their lowest level since 2024. This sharp decline coincides with speculation that the world’s largest asset management company, BlackRockcan quietly accumulate significant amounts of the token through crypto exchanges.
XRP declines as rumors of BlackRock investments increase
Crypto commentator Ledger Man ignited the debate earlier this Tuesday in a post on Coinbase’s declining XRP reserves and the growing speculation surrounding BlackRock’s potential involvement in the cryptocurrency. He suggested that the altcoin’s sharp decline on Coinbase could indicate large-scale off-exchange accumulation.
Ledger Man claimed that BlackRock may be purchasing significant amounts of XRP through Coinbase. According to his estimates, the asset management giant could already hold between 200 million and 400 million XRP if the withdrawals are linked to institutional purchases.
Although the claims have not been confirmed, the magnitude of the share price drop is difficult to ignore. A 90% decrease in supply on one of the largest US exchanges there are signals of aggressive self-determination or large institutional transfers, and Ledger Man is leaning towards the latter.
Datum BlackRock’s growing footprint in digital assetsspeculation about a possible investment in the cryptocurrency is not surprising. Over the years, the asset management giant has steadily deepened its involvement in the crypto market, fueling rumors that it may be expanding its exposure beyond just cryptocurrencies. Bitcoin and Ethereum products.
Particularly after the launch of spot Bitcoin and Ethereum ETFs, speculation spread across the crypto community BlackRock may be setting its sights on an XRP ETF. However, these claims ultimately turned out to be false.
The altcoin in particular, with its established focus on cross-border payments and diverse use cases, could fit into a longer-term portfolio strategy for many organizations, as recent studies show. investment activity of Goldman Sachs. However, the cryptocurrency remains a largely speculative and volatile asset.
Binance Reserves Crash to 2024 Levels
As the supply on Coinbase fell by 90%, XRP reserves on Binance also plummetedand reached their lowest level since early 2024. According to CryptoQuant data shared by market analyst Ripple Bull Winkle has a whopping 700 million XRP left Binance since its November 2025 peak.
At current prices, the analyst noted that this substantial amount represents hundreds of millions of dollars removed from exchange portfolios. The magnitude of the outflows has raised concerns about the intentions of large investors, whether they are preparing for long-term accumulation or short-term trading.
Ripple Bull Winkle put the recent development in simple terms, highlighting that investors typically sell on exchanges but remove assets from these platforms when they plan to hold them. In that context, declines in foreign exchange reserves could indicate an immediate decline selling pressure on XRP.
Featured image from Getty Images, chart from Tradingview.com
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