Ripple Moves 250M XRP to Unknown Wallet, Stokes Sell-Off Concerns
Ripple transferred 250 million XRP (≈$703.9 M) from its escrow to an unknown wallet shortly after its scheduled September escrow unlock. This large transfer is part of 500 M XRP moved recently by Ripple beyond routine escrows. The move has sparked worries of potential sell-side pressure.
XRP’s price has retraced from $3 to $2.82–$2.85 amid weak momentum. Some traders see whale movements as precursors to dumping, while others argue they may reflect internal restructuring. As XRP underperforms broader crypto markets, this sizable on-chain activity is drawing close scrutiny from traders seeking clues on its next price trajectory.
Bearish
Large XRP transfers by Ripple after scheduled escrow unlocks typically raise fears of sell-side pressure. XRP’s recent decline from $3 to the mid-$2.80 range amplifies these concerns. Historical patterns show that major outflows can precede further price drops, as traders interpret such moves as signals of impending token sales. While internal restructuring remains possible, weak market momentum combined with significant on-chain activity supports a bearish outlook in both the short and medium term.