A significant amount of XRP, the digital currency linked to Ripple Labs, has been moved from the leading cryptocurrency exchange, Bitstamp, to a digital wallet with an unknown owner.
Popular crypto tracking service Whale Alert spotted the transaction, which involved 57,304,617 XRP, worth nearly $126.79 million based on the price of XRP at the time of transfer.
Massive XRP transfer sparks speculation
Moving such a large amount of XRP from this top exchange suggests that the holder could be planning to hold onto the asset for a long period. Hence, they’re moving it to a more secure storage solution, such as a hardware wallet.
This transfer represents one of the largest single XRP movements in recent weeks. As a result, crypto analysts will be closely monitoring future activity on this wallet due to the anonymity of the owner and the large amount of XRP involved.
Meanwhile, there haven’t been any significant changes to XRP price since news of the transfer broke. The coin currently trades at $2.19, based on data from CoinMarketCap, showing a decrease of 0.79% in the last day.
Also, the coin’s trading volume of $3.34 billion during this period indicates a high level of activity and interest in the XRP market. However, the 20% decrease in trading volume over the last 24 hours suggests that more XRP was traded today compared to the previous day.
CoinMarketCap data also shows that the price of this coin has been moving within a narrow range throughout April 25, 2025, trading between $2.18 and $2.20.
Another mystery wallet transfers over 29.5M XRP to Coinbase
On April 24, Whale Alert also revealed the transfer of more than 29.5 million XRP (valued at $65.35 million at the time of the transaction) from an unknown wallet to the number one cryptocurrency exchange in the US, Coinbase.
The timing of these transactions is interesting, as they come during a period of recent positive developments regarding Ripple Labs’ legal case with the U.S. SEC and the growing adoption of XRP for cross-border payments.
As reported by U.Today earlier today, there was also a notable rise in the network fees of the XRP Ledger on April 24—the highest in the last 10 days.
