Ripple Transfers 80 Million XRP from Unidentified Wallet in Impressive Move this Month

The XRP holdings are regularly released each month, and in January, a significant amount of XRP was transferred to an anonymous wallet. According to data shared by analyst Whale Alert, 80,000,000 XRP was moved to an unknown wallet.

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80,000,000
#XRP
(46,180,757 USD) transferred from
#Ripple
to unknown wallet
https://t.co/SZRgs88Q98
— Whale Alert (@whale_alert)
January 16, 2024

The move by Ripple is part of their strategy, as they recently transferred 1 billion XRP on January 1. After some time, the company relocked 80% of the total sum in escrow, while the remaining 200 million XRP, about 20% of the total, was sent back to the company’s spending address.

Ripple’s strategy is commendable, as they first transferred 100 million XRP to the address ‘rP4X2…sKxv3’ on January 7, and this month, they moved another significant 80 million XRP to the same address.

With these two transfers, Ripple now locks up to 46.34 million XRP, worth $26.46 million, as balance. The mentioned address also holds 97.8 million XRP, equivalent to $55.84 million.

A recent transfer of 443.1 million XRP, valued at approximately $254.8 million, has drawn the attention of XRP holders. This has sparked questions within the crypto community, with speculations suggesting that it could be an internal operation by the European exchange Bitvavo, adding complexity to the ongoing assumptions surrounding extraordinary XRP transactions.

During an interview with CNBC, Ripple CEO Brad Garlinghouse revealed that the approval of the XRP ETF is imminent, indicating that 2024 will be a significant year for XRP.

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Ripple (XRP)