A significant XRP transfer involving a Ripple-associated wallet has sparked debate within the cryptocurrency community. On-chain tracker Whale Alert revealed the transaction in a tweet, reporting that 300 million XRP, valued at $682 million, was transferred between two Ripple-affiliated addresses on January 8, 2025.
A Strategic Move or Preparation to Sell?
The transaction occurred at 20:16 UTC, with the sending wallet, “rBg2Fu,” moving funds to the receiving wallet, “rP4X2h.” While Whale Alert initially labeled the recipient address as anonymous, subsequent analysis confirmed its association with Ripple.
Ripple activated the receiving wallet in 2023 with 70 million XRP and has since used it for substantial on-chain settlements. Following the transfer, the wallet retained 409 million XRP, valued at $945 million, after moving 6 million XRP shortly after receiving the funds.
Ripple’s On-Chain Activity
This isn’t the first significant transaction involving the “rP4X2h” address. In December 2024, it received 380 million XRP worth $915 million from another Ripple-linked wallet, “rMQ98K.” Similarly, in October 2024, the address transferred 100 million XRP ($53 million at the time) to another Ripple-affiliated wallet.
These transactions highlight Ripple’s continued use of its wallets for large-scale on-chain settlements, fueling speculation about the intent behind the latest transfer.
Community Speculation and XRP Price Action
The move has drawn mixed reactions. Some community members view the transfer as a bullish signal, while others fear it may precede a large sell-off, potentially impacting the market.
XRP currently trades at $2.310, recovering slightly from a low of $2.272. The digital asset has gained 2% over the past day.
Conclusion
Ripple’s substantial XRP transfer underscores its active on-chain management strategy. While speculation persists about its purpose, such moves are integral to Ripple’s operations. The market’s response will depend on whether this activity signals broader strategic developments or potential market impacts.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.