The post Ripple Sends 200,000,000 XRP to Unknown Wallet: Details appeared on BitcoinEthereumNews.com.

San Francisco-based payments company Ripple moves 200 million XRP to an unidentified blockchain address in a single transaction.  Whale Alert called the public’s attention to the latest XRP movement involving Ripple’s blockchain address. Data from Whale Alert shows that Ripple transferred the 200 million XRP, worth $402.74 million, today at 10:16 UTC.  🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 200,000,000 #XRP (402,739,474 USD) transferred from #Ripple to unknown wallethttps://t.co/cZz7k5fum8 — Whale Alert (@whale_alert) April 11, 2025 Unmasking the Identity of Recipient Wallet A transaction of this sort usually attracts investors’ attention due to its size, leaving many investors wondering about its reason. To get a clearer picture, we delved deeper into the transaction to ascertain the identity of the recipient’s wallet.  While Whale Alert claims Ripple sent the 200 million XRP to an unlabeled address, ‘rP4X2…sKxv3’, data from Bithomp suggests that this wallet is associated with the San Francisco-based crypto giant.  Ripple activated the wallet on October 2, 2023, using 70 million XRP. Since then, it has engaged with other wallets affiliated with Ripple.  The latest transaction involving 200 million XRP could be part of Ripple’s internal treasury management. It involves Ripple shuffling funds between its operational wallets. The entire 200 million XRP remained intact in the recipient wallet at press time.  Notably, the latest transaction brought rP4X2…sKxv3’s balance to 290.11 million XRP. With XRP currently trading at $1.99 per coin, the dollar equivalent of the wallet’s balance is $577.32 million.  Potential Purpose of the Transfer  Reacting, popular XRP community figure XRP_Liquidity claimed that the transaction was an internal movement between two Ripple-controlled wallets.  The user suggested that the 200 million XRP could be utilized for several functions, including ODL (now Ripple Payments), exchange-traded products (ETPs), and other financial transactions.  If the fund is prepped for ODL,…

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Filed under: News - @ April 11, 2025 8:21 pm