Ripple has executed a significant transfer of over 75 million XRP to a wallet associated with Binance, with the transaction valued at approximately $152 million. This transfer was noted on December 12 by Whale Alert, a service that monitors substantial blockchain movements. This operation followed a major internal reshuffle in which Ripple moved over 600 million XRP across various wallets, attracting considerable attention from the cryptocurrency community.
The recent transfer originated from Ripple”s primary wallet, known as Ripple (50). From there, the funds were redirected to a smaller Ripple-controlled wallet before being sent to a wallet identified as “rpxh7h,” which is linked to Binance. Given that Binance handles exchange deposits, such large movements often lead to speculation about Ripple”s strategic intentions, particularly with amounts of this scale. Concurrently, Whale Alert recorded an additional transaction involving 90 million XRP, which was later clarified to be an internal transfer within eToro”s wallets, not affecting the market.
Ripple”s internal wallet activity has been extensive, with over 600 million XRP being reorganized into different subwallets and fresh addresses within a 24-hour period. Typically, these internal movements indicate a restructuring rather than direct market activity, yet they remain closely monitored as Ripple holds a substantial portion of the total XRP supply.
As these transfers occurred, spot XRP exchange-traded funds (ETFs) continued to attract significant inflows. Data from SoSoValue indicates that on Thursday alone, these funds garnered approximately $16.42 million in new investments. The cumulative inflows into XRP ETFs are now nearing $1 billion, with the 21Shares TOXR ETF joining other active products in this space. This consistent demand has helped support XRP”s price amidst an otherwise cautious trading environment.
Currently, XRP is trading around $2.04, with a circulating supply of 60.33 billion tokens out of a maximum of 100 billion. While this price is considerably lower than its all-time high of $3.84 recorded in January 2018, it remains significantly above its all-time low of $0.0028, indicating a long-term recovery trend despite recent market pressures. The price chart shows weakness, trapped in a downward pattern since October, with the 50-day simple moving average (SMA) at $2.26 and the 200-day SMA at $2.60, both positioned above the current price level. Trading volume has decreased by nearly 30%, and the open interest in futures is at $3.69 billion, signaling reduced trader engagement even as the CME and Binance observe minor upticks. Following the latest wallet movements, XRP experienced only a slight rebound.
Analyst EGRAG CRYPTO has indicated that XRP is currently at a critical juncture: if trading remains within what he terms the “red zone,” he suggests that traders should lower their exposure and prepare for a potential upward movement. Conversely, if the asset is positioned in the “green zone,” he views this as an opportunity to buy dips and position for a more significant long-term advance.
