Ripple CTO claims Coinbase sought millions before agreeing to list XRP

• David Schwartz said Coinbase asked Ripple for millions before agreeing to list XRP.
• Schwartz said XRP later accounted for about 20% of Coinbase revenue after listing.
• XRP long liquidations reached $1.49M in 24 hours, while Binance long/short accounts stood at 2.655.

Ripple CTO David Schwartz, known as JoelKatz, has claimed Coinbase sought millions before agreeing to list XRP.

The claim has brought fresh attention to early listing talks between Ripple and Coinbase. It has also returned focus to XRP trading data, as traders remain heavily positioned on the long side.

Ripple CTO Describes Early XRP Listing Talks

Schwartz said Coinbase did not list XRP at first, even though XRP could support exchange activity. He said the two companies could not agree on terms. He also said the dispute centered on a large payment request.

In comments shared publicly, Schwartz said, “They ask Ripple for millions of dollars to list, and we refuse.” That statement is now central to the discussion. It presents the delay as a business dispute, not a technical issue.

The claim remains an allegation from Ripple’s side. No supporting contract details were included in the material provided here. As a result, the account should be read as Schwartz’s version of events.

Schwartz Says XRP Later Became a Large Revenue Source

Schwartz also said Ripple later reached an agreement with Coinbase. After that, XRP was listed on the exchange. He said the asset quickly became a major source of trading revenue.

According to Schwartz, XRP later made up about 20% of Coinbase revenue. That figure has not been independently verified here. Still, the claim has drawn attention because it links the listing to a clear commercial benefit.

The revenue statement has added weight to the debate around the earlier delay. It suggests Coinbase knew XRP could attract strong user activity. Even so, the exact terms of any later agreement remain unclear.

XRP Sentiment Still Shows a Clear Long Bias

Current derivatives data shows that XRP traders remain tilted toward long positions. Binance XRP/USDT long-short accounts stand at 2.655. OKX XRP accounts show a long-short ratio of 2.15.

Binance top trader long-short accounts stand at 2.8241. Binance top trader long-short positions stand at 1.159. This gap shows many traders are long, but position size is more balanced.

That pattern often points to a cautious bullish stance. Traders may favor upside, but they are not using equal conviction in size. The data shows optimism, and it also shows restraint.

Liquidations Show Recent Pressure on Bullish Traders

Recent liquidation data shows that long traders have taken most of the losses. Over four hours, total XRP liquidations reached $316.75K. Of that amount, $308.28K came from longs.

The same pattern appears in the 12-hour and 24-hour data. Over 12 hours, liquidations reached $792.89K, with $701.40K from longs. Over 24 hours, liquidations reached $1.60M, including $1.49M from longs.

The one-hour data was much smaller, and it showed a different split. Total liquidations reached $2.10K, and all of it came from shorts. That may point to a short-term pause after a broader long squeeze, while XRP sentiment remains bullish overall.