$XRP Large XRP Transfer Sparks Speculation Amid Market Volatility

According to U.Today, a large XRP transaction has recently been uncovered, involving the transfer of 35 million XRP, worth an estimated $58.29 million, between two unknown wallets. The move was reported by Whale Alert, a service that tracks large cryptocurrency transactions. Such transfers often attract the attention of market participants, especially when the addresses involved are unknown, as they can be seen as potential indicators of price manipulation. Given XRP’s current performance, such transactions can have a significant impact on investor sentiment.

The transaction was conducted between addresses “rBEc94” and “rsX8cp,” both of which remain unknown according to the tracking service. However, data from XRPL explorers like Bithomb suggests that these addresses are linked to the large brokerage platform Uphold. Uphold is known for its continued support of XRP during the regulatory challenges posed by the SEC’s case against Ripple. The platform holds around $3.85 billion in XRP user funds, with a coverage ratio of 100%. XRP trades make up 26.23% of Uphold’s total trading volume, with the number of transactions reaching 22.3 million.