Bitget Moves $56M XRP to Cold Wallet, Hinting at Institutions
Blockchain data on November 12 revealed a $56 million transfer of XRP from Bitget to an unknown cold wallet. Flagged by analyst X Finance Bull, this whale move comes amid growing speculation over XRP Spot ETF approvals, ISO 20022 adoption and government market reopenings. While large transfers are routine, shifting $56 M XRP off-exchange suggests long-term institutional accumulation or even government involvement. XRP’s full compatibility with ISO 20022 positions it as a bridge asset for cross-border payments. Investors expect XRP Spot ETFs to follow Bitcoin and Ethereum ETF successes, potentially unlocking major liquidity. Institutional players are reportedly ramping up blockchain testing ahead of ISO 20022’s full implementation in 2026. If this transfer marks early accumulation, it underscores rising confidence in XRP’s role in global settlement networks. Traders should watch on-chain metrics and exchange supply, as reduced sell pressure and increasing demand may drive both short-term price gains and long-term adoption of XRP.
Bullish
The $56 million XRP transfer to a cold wallet signals institutional accumulation, reducing available supply on exchanges. Similar whale moves preceded Bitcoin and Ethereum Spot ETF approvals, sparking sustained price rallies. With XRP Spot ETF anticipation and ISO 20022 implementation on the horizon, long-term holdings by deep-pocketed investors point to a bullish outlook. Short term, lower exchange balances could tighten supply and push XRP prices higher. Long term, confirmed institutional adoption and ETF clarity are likely to attract fresh capital, enhance liquidity and deepen market structure. Traders should monitor on-chain flows and exchange reserves to gauge continued buying momentum, but overall this exodus aligns with bullish patterns seen before major ETF-driven market surges.