Ripple Transfers 150 Million XRP Worth $66 Million: Here’s Where

Ripple has transferred 150 million XRP worth $66 million from its reserves to various crypto wallets as part of its regular release schedule, impacting XRP’s market dynamics.

Points

• Ripple released 1 billion XRP, transferring 150 million XRP worth $66 million.
• The transactions originated from Ripple’s vault account, affecting market liquidity.
• The movement of tokens to centralized exchanges can influence XRP’s price.

On July 1, Ripple released 1 billion XRP from its initial distribution, part of its regular release schedule. From this amount, Ripple transferred 200 million XRP to its vault account and retained the remaining 800 million tokens. Additionally, Ripple moved another 100 million tokens from the “Ripple （35）” account, totaling 300 million XRP.

These transactions originated from Ripple’s vault account, labeled “Ripple （1）,” which sent 150 million XRP to a specific crypto wallet identified as rP4X2hTa. Such movements contribute to the inflation of XRP supply as previously uncirculated tokens enter the market.

Currently, 202 million tokens remain in the rP4X2hTa account, while 50 million have already been transferred to another account, rhWt2bhR, known as an intermediate address before tokens are sent to exchanges. Subsequently, rhWt2bhR transferred 45.279 million XRP tokens to yet another wallet, r4wf7e9W.

In total, r4wf7e9W sent 71.55 million XRP, worth approximately $31.5 million, to centralized exchanges like Bitstamp, BTC Markets, and Bitso. These transactions currently hold around 234.38 million XRP tokens, valued at over $103 million.

Typically, entities move their crypto assets from self-custody to centralized exchanges when they intend to sell them. Historically, Ripple’s sale of tokens has significantly impacted XRP’s price due to the selling pressure it creates in the spot market.

Explanation

• Vault Account: A secure storage method for cryptocurrencies, often used by organizations to manage large holdings.
• Intermediate Address: A temporary holding address used in cryptocurrency transactions before the final transfer to another wallet or exchange.
• Spot Market: A market in which financial instruments, such as commodities or securities, are traded for immediate delivery and payment.

Ripple’s regular release and redistribution of XRP tokens play a crucial role in maintaining market liquidity, though they also introduce volatility due to potential selling pressures.