Massive 57M XRP Transfer from Bitstamp to Unknown Wallet Sparks Speculation

A massive XRP transfer has caught the attention of the crypto community. Whale Alert, a leading blockchain tracking service, reported that 57,304,617 XRP—valued at nearly $126.79 million at the time—was moved from Bitstamp to an unknown wallet. The large-scale movement suggests that the holder could be planning long-term storage, possibly using a secure hardware wallet to safeguard the digital assets.

This transaction is among the largest XRP transfers in recent weeks and has fueled speculation about the owner's intentions. Analysts are expected to monitor the wallet closely due to the scale and anonymity of the transfer. Despite the size of the move, XRP’s price remained relatively stable, trading at $2.19, down 0.79% over the past 24 hours according to CoinMarketCap. The 24-hour trading volume stood at $3.34 billion, reflecting strong interest, although it marked a 20% decline compared to the previous day.

Adding to the intrigue, Whale Alert also reported the transfer of over 29.5 million XRP, worth around $65.35 million, from an unknown wallet to Coinbase. These significant transactions come at a time when Ripple Labs is experiencing positive momentum in its legal battle with the U.S. SEC, and XRP adoption for cross-border payments is growing.

Furthermore, the XRP Ledger recently recorded a spike in network fees on April 24, reaching the highest levels seen over the past 10 days. As XRP continues to hover between $2.18 and $2.20, traders and investors alike are watching these whale movements for potential market impacts.