An XRP wallet that took in nearly 300 million XRP while the token traded around $2 sent 82.3 million XRP, worth about $106.6 million, to a brand-new address earlier today.
Whale Alert first flagged the move as a transfer between two unknown wallets; however, the XRP Ledger’s public history tells a longer story. The sending wallet’s trail, built from its onchain account record , is as follows:
The last number (82,314,668.8046 XRP) is exactly the Jan. 12 deposit of 73 million plus the Feb. 5 deposit of 9,314,668.8046. Like the May withdrawal, this looks like specific lots being peeled off.
Using daily prices on each deposit date, the 298.3 million XRP that flowed in was worth about $613 million on arrival, an average of roughly $2.06 per token. Today XRP is trading at about $1.30 .
Those are arrival values, not proven purchase prices, since the coins came from another wallet rather than an exchange trade.
So far, traders aren’t treating it as a sell signal, especially since XRP started the week up 3% with 24-hour volume up 32% to $1.76 billion, and has since held around $1.30 (all while bitcoin’s price action has stalled near $82,000).
The key signal from here on out is whether the new wallet sends anything to an exchange deposit address. If those 82.3 million XRP stay put, it was most likely a custody shuffle. If they move to an exchange, the remaining 142.8 million XRP in the original wallet becomes the next thing to watch.
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