Quick overview

Live XRP/USD Chart

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Coinbase no longer holds the estimated 970 million XRP across 52 cold wallets. Recently, only 35 of these addresses remain funded, indicating a startling 40% decrease in just a few weeks. Coinbase had 42 wallets containing 16.8 million XRP each in June, while 10 wallets held 26.8 million XRP each.

However, by July 29th, most of these wallets had either been completely emptied or contained only a small amount of XRP. One notable transaction included the transfer of 16.8 million XRP from a wallet known as “Cold Wallet 400” to a Coinbase hot wallet.

Ripple (XRP) has maintained support above $3 amid a hawkish stance from the U.S. Federal Reserve (Fed). Investors are analyzing Jerome Powell’s remarks during a press conference to gauge the Fed’s potential course of action following its decision not to change interest rates in July. Powell stated that regarding any possible policy shift in September, the central bank has “made no decisions.” He emphasized the need to support long-term inflation expectations and prevent a one-time price level increase from turning into a persistent inflation issue

Currently, XRP is trading sideways within the support range of $3 bandwidth. Bulls seem committed to initiating a trend reversal, targeting the record high of $3.65 reached on July 18, despite a decline in futures open interest and trading volume.

In related news, the task force led by U.S. President Donald Trump is set to publish a policy report on virtual assets. This report will address several critical topics affecting the digital asset sector, including the White House’s stance on tokenization and U.S. dollar-pegged stablecoins, as well as broader market regulation.

It will summarize the preliminary findings of the working group, supporting President Trump’s campaign promise to designate the U.S. as a global center for cryptocurrency.

Among the key points of interest are recommendations for the U.S. Securities and Exchange Commission (SEC) to establish clear rules for the creation of tokenized stocks and treasuries. The task force, under the leadership of Bo Hines, includes Russell Vought, the director of the Office of Management & Budget, Treasury Secretary Scott Bessent, and SEC Chair Paul Atkins.