Recent transactions totaling 640 million XRP have caught the attention of the crypto community due to their significant amount and uncertain nature.
Amount and Nature of Transactions
Recently, 640 million XRP tokens were transferred across three large transactions. These transfers, valued at approximately $1.4 billion at the time they occurred, were captured by blockchain tracker Whale Alert. The largest transfer involved 320 million XRP, followed by two consecutive transactions of 160 million XRP each. These movements were carried out between anonymous wallets, raising questions about their purpose and origin.
BitGo Wallet Activity
Additional clarity emerged from the @XRPwallets account on X, a source that frequently monitors liquidity movements and wallet flows within the XRP ecosystem. In a post addressing the transfers, it stated that the 320 million XRP was moved from SBI VC Trade 4 and then forwarded as two 160 million XRP transactions through an internal Bitgo wallet. This was an internal transaction process, proving that the funds were not externally redistributed, confirming they are self-custody.
Conclusion
The transfer of 640 million XRP, with a combined value of over $1.4 billion, remains a focal point within the digital asset space. Confirmations pointing to internal activity at BitGo suggest that further movements from these wallets will likely remain under watch by analysts and holders alike.
The analysis of the involved transactions continues to generate interest in the crypto community as further movements of the funds could impact the market.
