A newly activated whale wallet has received over 140 million XRP worth $167.7 million as the token’s price fell below $1.20 and approached its lowest level in months.
The large transfer, which involved exactly 140,351,238, occurred on Nov. 6 at 4:40 PM UTC, when the receiving address, “rMc…uXB,” gulped the entire amount in a single transaction.
The transfer coincided with XRP breaking below the $1.20 support level, which the token had maintained since August, before reaching an intraday low of $1.17. At press time, XRP continued trading around $1.17, representing a decline of 17.4% over the past 30 days.
New Whale Holds onto the XRP Balance
On-chain records show that the receiving whale address was activated on Oct. 5, 2026, and remained practically empty afterward. Before the recent transfer, it held just 32 XRP. However, its balance has since increased dramatically.
The wallet has not recorded any outgoing transactions after receiving the funds and still holds approximately 140.35 million XRP at the time of reporting.
This holding could indicate that the whale intends to retain the XRP for an extended period, although the available transaction history does not confirm whether the movement represents an accumulation or a temporary transfer between wallets.
Tracing the Trail Back to Bitstamp
Interestingly, the sending address, “rN3…opY,” was responsible for activating the receiving wallet in October. This establishes a connection between the two addresses from the beginning of the receiving wallet’s activity.
However, neither address carries an identifying label that reveals its owner. As a result, available on-chain information cannot confirm whether an individual investor or an institution controls the wallets.
Nonetheless, the relationship between both addresses could indicate that the transaction represents an internal wallet reshuffle, not necessarily a fresh XRP purchase.
Further examination of the sending wallet reveals a connection to Bitstamp, as its transaction history traces back to an address affiliated with the cryptocurrency exchange.
A Bitstamp-affiliated address activated the sending wallet in January 2026, although the wallet had not interacted with any other Bitstamp wallet since that initial connection.
Meanwhile, despite the recent 140 million XRP transfer, the sending wallet retained a balance of roughly 238 million XRP. Its entire holdings, including the recently transferred 140,351,238 XRP, originated from the same Bitstamp-linked source.
Broader Whale Accumulation Surrounding XRP
The large transfer occurred alongside increased activity among XRP’s biggest holders. Crypto analyst Ali Martinez reported that whale holdings rose by about 60 million XRP over the previous seven days.
On Nov. 4, another significant movement saw 418.5 million XRP leave Binance, marking the exchange’s largest single-day outflow in nine months, according to analyst Darkfost.
Data from blockchain analytics platform Santiment reveals further evidence of growing activity among large XRP holders. The number of wallets holding at least 1 million XRP climbed to 2,147, representing the highest reading recorded in 2026.
This trend suggests that large investors continued moving and accumulating XRP during the market downturn, while the token struggled to maintain its price levels.
However, increased whale activity has not translated into an immediate price recovery. XRP declined 9.8% within 24 hours to $1.18 on Nov. 6, marking its weakest price level since Aug. 22. The decline followed an unsuccessful recovery attempt that had pushed the token toward $1.35 before sellers regained control.
Broader market conditions also contributed to the pressure. The Nasdaq Composite fell 5.5% on November 5, while Bitcoin retreated toward $76,000. XRP also lost approximately 5.5% over the same 24-hour period amid the wider market weakness.