Whale Alert: Ripple Sends 200 Million XRP Into The Shadows
Ripple has transferred 200 million XRP tokens, valued at approximately $400 million, between its own wallets. The transaction was initially reported as heading to an unknown address but was later confirmed to be an internal transfer. The receiving wallet, created on October 2, 2023, has only interacted with Ripple-linked addresses and currently holds around 290 million XRP, worth about $577 million. This transfer is seen as standard treasury management, with no immediate plans for the tokens' use. The sending wallet still contains 200 million XRP and had received 300 million XRP in April from another Ripple-linked address. Ripple typically maintains most of its XRP in escrow accounts, with monthly programmed releases. Notably, Ripple deviated from its usual schedule for the April token release, which has drawn attention from market watchers due to the high valuation of XRP.
