Ripple Labs Transfers 200 Million XRP Valued at $402.7 Million

Ripple Labs transferred 200 million XRP, valued at approximately $402.7 million, from one of its wallets to an unknown address on April 11. This move has raised concerns within the community regarding potential selloff.

Key Points

The transfer was noted by Whale Alert and occurred as XRP trades near the $2 mark.
The destination wallet is reportedly linked to another Ripple address, suggesting internal fund management.
This transaction comes amid ongoing legal developments with the U.S. Securities and Exchange Commission (SEC), including Ripple locking 700 million XRP in escrow post-lawsuit resolution.
XRP briefly rose to $2.01 after the launch of the first XRP ETF in the U.S., maintaining a trading range between $1.93 and $2.03.
Analysts predict potential price growth for XRP, with estimates ranging significantly if market trends mirror past years.
Ripple's legal situation shows promise with the SEC dropping its appeal, contributing to recent price increases.

Current consensus indicates XRP is holding the $2 support level, with expectations for significant future movements depending on broader market conditions.