Ripple moved 210.6 million XRP worth over $738 million between two internal subwallets earlier today.
The transaction was confirmed by on-chain data linking both wallets directly to Ripple’s infrastructure.
XRP price climbed 20% last week following ETF approval and new U.S. legislation impacting stablecoins.
A major XRP transfer involving 210,669,117 tokens valued at $738,134,962 was recorded approximately three hours ago, according to Whale Alert. The transaction was carried out between two anonymous wallets, causing immediate attention across the crypto community.
Despite the initial lack of clarity, on-chain analytics later confirmed that both wallets are operated by Ripple. According to XRP-focused tracking service @XRPwallets, the sender and the receiver are internal subwallets linked to Ripple. The source noted that the destination wallet was activated in June 2022 and is now being used for holding transferred funds.
Speculation Follows Internal Transfer Amid Market Activity
The sizeable internal transaction has triggered discussion among XRP holders and observers. While no direct reason for the transfer has been disclosed, such movements often relate to internal fund restructuring or preparation for institutional liquidity management.
This XRP movement comes shortly after XRP surged from $3.02 to $3.65, marking a 20% rise within a single day. The increase followed the launch of the XRP ETF and the U.S. president’s signing of the Genesis Act, a new law regulating stablecoins in payment systems. The regulation directly affects Ripple’s RLUSD stablecoin initiative.
Ripple Maintains Strategic Asset Control
Although Ripple has not issued an official statement regarding this transaction, it regularly manages XRP holdings across various subwallets. Such internal wallet movements typically aim to maintain asset control and manage market supply dynamics.
Following the spike, XRP recorded a slight 5.72% drop over the weekend. However, it later recovered slightly with a 3.33% gain. At the time of reporting, XRP is trading at $3.56, remaining close to its 2018 all-time high of $3.85.
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