NewsBTC
Apr 12, 2025
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Ripple Transfers 200 Million XRP Valued at $400 Million Between Wallets

Ripple has moved 200 million XRP, valued at around $400 million, between its own wallets. The transaction was detected by Whale Alert.

Transaction Details

  • The transfer was initially thought to go to an unknown wallet but was later confirmed as an internal movement.
  • The receiving wallet was created on October 2, 2023, with an initial deposit of 70 million XRP.
  • Since its creation, the wallet has only interacted with Ripple-related addresses.

Purpose of Transfer

  • Crypto community tracker XRP_Liquidity suggests this is standard treasury management for Ripple.
  • The transferred tokens remain untouched, indicating no immediate plans for their use.
  • The receiving wallet now holds about 290 million XRP, worth approximately $577 million at the current price of $2.04 per token.

Financial Context

  • The sending wallet still contains 200 million XRP and had previously received 300 million XRP on April 2 from another Ripple-linked address.
  • This wallet had also received 500 million XRP from a recent escrow release.
  • Ripple typically maintains a majority of its XRP in escrow accounts, releasing funds monthly.

Schedule Changes

  • Ripple altered its usual first-of-month schedule for the April token release.
  • They returned 700 million XRP to escrow before releasing 1 billion XRP on April 3.
  • This deviation has not been publicly explained by Ripple.

These transactions are monitored closely due to their potential impact on the market.