TLDR
- A single trader accumulated 2.735 million XRP tokens worth approximately $6.8 million through systematic buying on Coinbase.
- The entity executed exactly 4,287 separate buy orders with each order purchasing 638 XRP tokens valued at $1,588.
- The trader used a Time-Weighted Average Price algorithm to spread the large purchase across multiple small transactions.
- The buying activity occurred between 11:00 AM and 11:45 AM on October 31 within a 45-minute window.
- Coinbase’s Cumulative Volume Delta spiked to nearly 14 million XRP during the concentrated buying period.
A trader has accumulated approximately $6.8 million worth of XRP through thousands of systematic buy orders on Coinbase. Market analyst Dom identified this unusual trading pattern and shared the findings on the social media platform X. The entity used an automated Time-Weighted Average Price strategy to execute the large-scale purchase.
TWAP Algorithm Executes Thousands of Small XRP Purchases
The trading algorithm placed 4,287 separate buy orders on Coinbase over a concentrated time period. Each individual order purchased 638 XRP tokens valued at roughly $1,588 per transaction. The combined purchases totaled 2.735 million XRP tokens worth over $6.8 million at current prices.
It looks like some type of TWAP was also turned on for $XRP about an hour ago on Coinbase?
Look at premium develop compared to the other exchanges (yellow starts trading higher)
638 XRP buys repeated 4,287 times over the last hour
Pretty bizarre https://t.co/WAX9I5NINN pic.twitter.com/leJD44uLDV
— Dom (@traderview2) October 31, 2025
Dom discovered this XRP accumulation pattern shortly after observing a similar TWAP strategy on Binance. That previous case involved 30,000 Ethereum purchases executed within one hour. Time-weighted average price algorithms break large orders into smaller increments to minimize market impact.
The TWAP method distributes purchases at regular intervals, rather than executing a single massive order. This approach prevents sudden price fluctuations that typically occur with large single transactions. Institutional traders commonly employ this strategy to maintain price stability during substantial acquisitions.
Coinbase Cumulative Volume Delta Shows Massive Spike
The systematic buying activity created a sharp increase in Coinbase’s Cumulative Volume Delta metrics. Data reveals the CVD jumped from 11:00 AM to 11:45 AM on October 31. The metric rose to nearly 14 million XRP during this brief 45-minute window.
Cumulative Volume Delta measures the difference between total buy and sell orders on an exchange. Other major exchanges, including Binance, Bybit, OKX, Upbit, and Kraken, showed CVD ranges between -2 million and +2 million XRP. Coinbase stood out dramatically compared to these other trading platforms during the accumulation period.
The concentrated buying pressure on Coinbase specifically affected XRP pricing on the platform. XRP traded around $2.545 on competing exchanges while Coinbase showed prices reaching $2.555. This price difference created a Coinbase Premium as buyers absorbed available supply.
Strategic Order Execution Prevents Extreme Price Movements
Vincent Van Code previously suggested that a single $15 million buy order could push XRP prices to $15. His analysis referenced the limited XRP reserves available on Binance order books. The TWAP strategy deliberately avoided such dramatic price impacts through gradual accumulation.
Dom emphasized that the $6.8 million purchase aimed to prevent the kind of price surge Van Code described. The algorithm’s design minimized market disruption while completing the substantial acquisition. This execution method demonstrates sophisticated trading practices among large XRP buyers.
The trader’s identity remains unknown but the scale suggests institutional involvement or high-net-worth participation. The purchase represents one of the largest tracked accumulations of XRP in recent trading activity. Coinbase processed all 4,287 orders without apparent technical issues during the concentrated buying period.
