Ripple executed significant XRP transfers, moving nearly 125 million tokens valued at approximately $178 million as the cryptocurrency struggles to reclaim the $1.5 level.
On-chain data reveals that Ripple processed two large transactions within hours: 75 million XRP, worth about $107 million, was transferred from a Ripple-linked wallet, while 50 million XRP, valued at around $71.5 million, was sent back from an unknown address. These transfers appear to reflect a coordinated internal reshuffle rather than unrelated transactions.
The firm consolidated 50 million XRP into a primary wallet and redistributed 75 million XRP through intermediary addresses. This included routing 50 million XRP to two wallets associated with Coinbase and retaining 25 million XRP internally. The use of multiple wallets suggests a commitment to standard liquidity management and compliance with exchange practices.
These movements differ from Ripple’s routine monthly escrow releases, which typically involve unlocking one billion XRP, most of which is re-locked. The recent transactions utilized existing treasury holdings, indicating standard internal management rather than anticipated changes in supply.
The timing coincides with a notable rebound for XRP as institutional interest grows. Transfers to Coinbase-linked wallets may signal liquidity provisioning, institutional servicing, or over-the-counter sales—activities Ripple has historically executed without causing significant sell-offs.
Markets will monitor whether the newly transferred tokens are distributed further or held for liquidity purposes. Ripple has maintained a history of conducting such transactions without provoking major price disruptions, suggesting this represents routine treasury management.
As of the latest report, XRP trades at $1.44, reflecting a gain of about 1.2% in the past 24 hours and a 5% increase over the past week. The price remains near its short-term trend, though it is under pressure in a broader context.
The 50-day simple moving average (SMA) stands at approximately $1.38, indicating mild near-term support, while the 200-day SMA is significantly higher at $1.89, marking a longer-term downtrend with considerable resistance. Additionally, momentum indicators, including the 14-day RSI at 51.74, suggest a neutral market condition, neither overbought nor oversold.
