XRP has remained under pressure in recent weeks, frustrating traders focused on short-term price movement. However, blockchain data shows whales remain active. Specifically, large holders have continued to move enormous amounts of XRP amid the weak market sentiments.
Interestingly, these transfers involve tens and sometimes hundreds of millions of XRP at a time, involving 1.59 billion XRP since January. This has led to speculations of a possible accumulation campaign as the unknown addresses show no links to centralized exchanges.
Market commentator XFinanceBull recently highlighted this trend, arguing that it may represent an accumulation. He highlighted repeated XRP transfers of 60 million, 73 million, 100 million, and more than 131 million XRP, occurring consistently, and not as isolated incidents. Each transaction carried an estimated value ranging from $100 million to $230 million at the time.
XFinanceBull noted that these transfers moved from unknown wallets to unknown wallets and did not involve identifiable exchanges. He also stressed that exchange supply barely changed during this period, leading to his argument that the activity indicates accumulation, not selling.
According to his assessment, transactions of this size fall far outside retail behavior and relate more to funds, market makers, institutional investors, or corporate treasuries.
Over the past 24 hours, Whale Alert recorded four separate transactions of this nature. Together, these transfers totaled 364 million XRP, valued at $600 million at the time.
Since January, tracked transactions have moved a total of 1.590 billion XRP, worth about $2.54 billion at press time. Earlier, The Crypto Basic called attention to similar movements, including one instance where a single address accumulated 120 million XRP within one hour.
A look at the data reveals a persistent routing pattern. Specifically, most of the large transfers originated from a single wallet identified as “rpxh…ZZY1.” This address appears to act as a central hub, receiving XRP from multiple sources before redistributing the tokens.
In most cases, rpxh…ZZY1 sent millions of XRP to three recurring destination wallets: “rJUd…PYXE,” “rL1q…Vrkjf,” and “rGMi…9bQ9j.” This indicates that the transactions represent coordinated internal movements, not random transfers between unrelated parties.
At the time of writing, none of the wallets involved show links to known exchanges or publicly identified entities. This leaves both the identities behind the wallets and the purpose of the transfers unclear at press time.
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