According to data provided by Whale Alert, a popular service that tracks abnormally large cryptocurrency transactions, San Francisco-based enterprise blockchain company Ripple recently sent a total of $682 million worth of XRP to an unknown wallet.
This is the first major transfer conducted by the company since Dec. 21. Back then, it sent more than $200 million XRP in two transactions.
The most recent transfer dwarfs the amount of XRP the company sent throughout the entire month of December.
Alex DovbnyaAs reported by U.Today, Ripple CEO Brad Garlinghouse recently confirmed that the company owned more than $100 billion worth of XRP tokens.
This, according to the prominent executive, should be taken into account when determining the valuation of the private company.
XRP's rally stalls
The Ripple-affiliated token stole the show in the fourth quarter of 2024 with its tremendous gains that allowed Ripple cofounder Chris Larsen to add $6 billion to his net worth in less than two months.
However, the high-flying token has thus far struggled to revive this rally in early 2025. This is mostly due to the weakness of the broader cryptocurrency market caused by Bitcoin's underperformance.
According to CoinGecko data, XRP is currently trading at $2.30 after declining by more than 6% over the past 24 hours.
With that being said, Monica Long, president at Ripple, recently predicted that XRP would be the next cryptocurrency to get its spot exchange-traded fund in the U.S. after Bitcoin and Ethereum. The ETF buzz could become another key bullish tailwind for the token.
Alex Dovbnya
Gamza Khanzadaev
Dan Burgin
Vladislav Sopov