Ripple Labs is once again shuffling XRP between wallets, a trend that has sparked speculation on possible impact on the price of the coin.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
Blockchain payments firm Ripple Labs has moved 200 million XRP onchain, drawing the community’s attention.
The transfer happened as the price of the fourth-largest cryptocurrency hovers near the $2 mark. Notably, the size of the transaction has raised some questions, especially with legal and market shifts unfolding simultaneously.
According to recent on-chain data from Whale Alert, Ripple Labs carried out the transaction on April 11. The 200 million XRP was valued at around $402.7 million and came from one of its wallets to an unknown address.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 200,000,000 #XRP (402,739,474 USD) transferred from #Ripple to unknown wallethttps://t.co/cZz7k5fum8
— Whale Alert (@whale_alert) April 11, 2025
Shortly after the transaction was executed, it triggered possible selloff speculation across the XRP community. Though the destination wallet was initially unknown, XRP explorer Bithomp data later suggested that the funds were redirected to another Ripple-linked address.
Past trends show that Ripple has made similar wallet transfers. These were often related to covering operational expenses or distributing tokens to institutional partners. This time, the company has not released an official statement. However, the size of the transfer suggests that it could be part of Ripple’s internal fund management.
Some analysts believe it could be part of Ripple Labs’ broader strategy, potentially linked to its ongoing legal battle with the U.S. Securities and Exchange Commission. For context, Ripple Labs recently locked 700 million XRP in escrow following the resolution of the SEC lawsuit.
Still, the timing coincides with the recent debut of the first XRP ETF in the United States. Notably, this launch has added momentum to the coin’s visibility in mainstream financial markets.
XRP briefly rose by 1% after the ETF’s release, pushing the token to $2.01 before settling slightly lower.
The Ripple-linked coin is still trading within a narrow range, with recent highs of $2.03 and lows around $1.93. Despite the volatility, it is holding steady near the $2 level, which many investors see as important.
Key events have bolstered XRP’s price lately. Ripple and the SEC are moving toward a resolution, with the SEC choosing to drop its appeal against the company. The appeal closure pushed the price of XRP up by over 13% to $2.59.
In a recent update, Ripple Labs and the U.S. Security Commission filed a joint request with the U.S. Court of Appeals to pause any appeal obligation. This further boosted the chances of an XRP explosion.
In line with recent trends, some analysts, including EGRAG CRYPTO, think XRP has room to grow. They believe if the market follows the same pattern as in 2017 or 2021, the price could climb to $19 or even $45. Specifically, if Bitcoin reaches a new all-time high, it can fuel the XRP price breakout.
EGRAG also pointed to the XRP and Bitcoin chart, saying it shows signs that XRP might be preparing for another big 10X move. Current consensus hints at XRP holding the $2 support level.
Bitcoin will reach new ATH. #XRP will 10X minimum
#ALTS will 10x-50X.STAY STEADY and FOCUSED! pic.twitter.com/al2XFMYUlj
— EGRAG CRYPTO (@egragcrypto) March 9, 2025
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
