Recent massive movement of XRP tokens has triggered a wave of discussions and speculations within the crypto community. Here are the details behind this operation.
Giant XRP Token Transfer
On June 30, a total of 320 million XRP, valued at over $703 million, was moved between unidentified wallets. According to Whale Alert, the sending wallet (rNR…6jS) was linked to SBI VC Trade, a long-time partner of Ripple. The tokens were split into two equal transactions of 160 million XRP, now residing in new addresses. This transfer occurred just before Ripple's scheduled release of 1 billion XRP from escrow, raising speculation about possible plans from SBI VC Trade.
Speculations and Expectations
The token movement coincided with Japan's evolving regulatory landscape. The Financial Services Agency recently proposed reclassifying cryptocurrencies as legal financial instruments, which opens doors for crypto ETFs and includes significant tax reform, lowering the current crypto tax rate from 55% to 20%. Given SBI's connections to Ripple and Japan's regulatory progress, there is speculation that the transfer may be linked to institutional positioning ahead of potential ETF approvals or other significant developments.
Current Market Status of XRP
Despite early gains, XRP price fell below $2.20, trading between $2.18 and $2.22, with trading volume increasing by 15%, indicating heightened trader activity. XRP struggles to break above key moving averages (50, 100, and 200 SMA). The Relative Strength Index (RSI) dipped to 50.68, signaling neutral momentum. Historically, XRP rallies above key Exponential Moving Averages (EMA) before pulling back for a retest, with expert EGRAG CRYPTO suggesting that the recent retest took place in April 2025.
The recent events surrounding XRP raise many questions about the future of the token and how external factors such as regulatory changes may impact the market.
