A Ripple-linked address has moved 50 million XRP to an unknown wallet after receiving 150 million XRP earlier this month.
On-chain data shows that the Ripple (50) address sent the 50 million XRP worth $50.5 million at the time to raRV…yNRf on Aug. 13 at 04:40 AM UTC.
Ripple Moves 50M XRP
The transfer came several days after the Ripple (50) address received 150 million XRP from the Ripple (1) wallet on Aug. 7. The address initially kept the tokens without making any outgoing transfers.
However, activity began on Aug. 10, when it started moving smaller amounts. Between 17:00 and 21:41 UTC on Aug. 10, it transferred a total of 745,000 XRP to three different unidentified addresses.
The transfers continued on Aug. 11, when the wallet sent a little more than 4 million XRP to another unknown address, rP4X…Kxv3.
It then moved 36,000 XRP to rP7j…8JvE on Aug. 12. The latest transfer of 50 million XRP to raRV…yNRf now stands as the largest transaction from the Ripple (50) address since it received the 150 million XRP.
After these transactions, the Ripple (50) address still held 158 million XRP at press time, as it had also received XRP tokens before the recent 150 million-token transfer.
Wallet Links Point Back to Ripple
Although raRV…yNRf is labeled as an unknown address, on-chain activity shows a connection to Ripple. The address received its activation from rP4X…Kxv3, which the Ripple (50) address activated in October 2023.
For context, the Ripple (50) address also sent one of its recent transfers to rP4X…Kxv3. The links between these wallets suggest that Ripple could be moving the XRP between related addresses before sending the funds to their final destination.
So far, raRV…yNRf has moved only 1 million XRP from the 50 million XRP it received. Notably, at 04:45 UTC on Aug. 13, it sent that 1 million XRP to a wallet with links to Binance, indicating a possible intent to sell. The address still holds the remaining 49 million XRP, which leaves the next movement of those tokens as something to watch.
XRP Stays Near Critical Support
The latest wallet activity comes as XRP trades at $1.0073 and remains under strong downward pressure. The token has recorded its lowest close since 2024 and continues to trade inside a descending wedge. Sellers have repeatedly rejected attempts to push XRP above the pattern’s upper trendline.
The $1.00-$1.015 zone has now become the key area for XRP. Holding this range could keep the price in consolidation, while a break below it could lead to a deeper decline.
On the other hand, a move above $1.022 would mark the first important recovery signal and could open the way toward the $1.05-$1.07 resistance zone. A stronger move could then bring the $1.1796 level into focus.
Derivatives data still calls for caution. Aggregated open interest has risen to $986.48 million, while the long/short ratio stands at 3.095 and the funding rate is 0.0087. These figures indicate that a large number of traders hold long positions, which could increase liquidation risk if XRP breaks below support.
XRP also remains below its 20-day, 50-day, 100-day, and 200-day EMAs. The daily RSI has also fallen to 36.2, which puts it closer to oversold territory. However, it has not reached a level that would, on its own, confirm that selling pressure has run its course.
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