A transfer of 29,324,207 XRP, worth $67.52 million, was recorded leaving BitGet and moving into what trackers first called an unknown wallet, which got people's attention after last week's Black Friday crash.
That crash made billions of dollars, about $19 billion to be exact, disappear from the market, and led to some of the biggest liquidations we have seen this year, wiping out leveraged positions across exchanges and leaving traders watching every large on-chain movement with more suspicion than usual.
Community monitors like "@XRPwallets" later figured out that the address was part of BitGet Global's infrastructure, but the label did not really stop people talking because, right now, even normal internal flows are seen as signs of changing liquidity.
With XRP still recovering from brutal dips, the fact that such a large transfer happened makes one wonder about exchange positioning and whether major holders are exchanging how much they are exposed at a key point for how people feel.
Ripple effect
With XRP, in particular, where volumes and open interest are still low after forced liquidations, large transfers are adding to the cautious outlook, strengthening the sense that market depth has not fully returned and that any significant move across exchange wallets could put pressure on price action.
Basically, this is the ripple effect now shaping perception: transactions broadcast on-chain do not just stay operational details — they become immediate input for traders looking for direction. And when the memory of a $19 billion wipeout is still fresh, every movement of tens of millions in tokens risks being read as more than just business as usual.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team