XRP Army's Backlash Sparks Coinbase Stock Selloff

The crypto market is known for its extreme speed and sensitivity to sentiment. A recent viral post by Xaif has sparked a wave of attention, claiming that the XRP Army's backlash has contributed to a sharp selloff in Coinbase stock.

According to shared TradingView data, Coinbase shares have experienced a 20% decline over five days, with a six-month drawdown nearing 47%. This significant drop is not isolated to short-term volatility but rather reflects sustained weakness in the market.

The narrative driving the discussion centers on resurfaced claims linked to former Ripple executive David Schwartz. These allegations suggest that Coinbase demanded significant fees during earlier discussions surrounding XRP relisting after regulatory uncertainty tied to the SEC lawsuit.