Ripple Shovels 200 Million XRP – What's Happening?

Popular blockchain tracker Whale Alert, which monitors large cryptocurrency transactions and shares the details on X social media platform (formerly known as Twitter), spread the word about an enormous XRP transfer conducted by Ripple behemoth.

This transfer took place while it became known that XRP had reached a major milestone in terms of unique wallets.

Community's excitement at Ripple's 200 million XRP transfer

The aforementioned data source shared that roughly 12 hours ago, Ripple shoveled a staggering amount of XRP – 200 million coins worth $109,416,737. The transaction was made to an unknown wallet.

This transfer brought on a series of intrigued and enthusiastic comments from the XRP community. Some, though, jokingly said that Ripple is selling in order to get the necessary $125 million to pay the fine to the Securities and Exchange Commission. The majority of the commentators, however, took it as a bullish sign for both Ripple and XRP.

According to the data shared by the public XRP-focused explorer Bithomp, the anonymous wallet where the 200 million XRP were moved is also affiliated with Ripple, which may suggest that the company is either indeed selling this huge XRP chunk or is sending it to one or several of its customers – financial institutions.

Prior to that giant XRP transfer, Whale Alert noticed two more. They were withdrawals made by anonymous cryptocurrency wallets from major exchanges – Upbit and Bybit. These are based in South Korea and Dubai. These crypto transfers carried 20,000,000 and 52,000,000 XRP and comprised $11,099,706 and $28,676,856 in fiat.

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Active XRP wallets reach three-month peak

As reported by U.Today, earlier this week, the on-chain data aggregator Santiment detected a significant spike in active wallets on the XRP Ledger – the biggest in the past three months. Santiment’s data shows that the number of these wallets has reached 35,799 unique wallets, which have been making at least one transfer over the past three months.

Besides, another major historic high was observed – 3,858 new wallets were created within just a single day, and that marked the highest amount of new addresses in more than seven months.

In the meantime, XRP has demonstrated a significant 3% price decline today, falling to the $0.54253 level from $0.55864. Prior to this decrease, XRP showed a 3.64% surge within 24 hours.