Massive XRP Token Transfer Spotted on June 30
A significant movement of XRP tokens was recorded on June 30, 2024, involving the transfer of 200 million tokens worth approximately $94.5 million between two unknown wallets. This transaction precedes Ripple's monthly escrow unlock and was highlighted by transaction tracker Whale Alerts.
Transaction Details
The transfer was initiated from wallet address “rP4X2h” to “rJqiMb.” Both wallets are linked to Ripple, the largest holder of XRP. The recipient’s wallet, “rJqiMb,” was activated by Ripple in October 2021 and is used for periodic token movements and selloffs. Meanwhile, the sender’s wallet, “rP4X2h,” was activated by the recipient wallet in October 2023.
Notably, these tokens were not transferred into any cryptocurrency exchange and remained in the recipient’s wallet for about 48 hours before 100 million XRP tokens were sent back to the source address.
Ripple’s Token Management
This event sparked curiosity among the XRP community, though it’s not unusual for Ripple-related transactions to attract attention due to the company's extensive holdings. On the same day, Ripple completed its July unlock of 1 billion XRP tokens in three batches.
Current Holdings and Market Information
As of the latest updates, address “rJqiMb” holds 107.2 million tokens valued at $51.4 million, and address “rP4X2h” retains 93.6 million tokens worth $44.9 million. XRP is trading at $0.48 at the time of writing.
Transactions of this magnitude, especially involving Ripple, continue to be a point of interest and speculation for XRP holders and market watchers.