Reports Disagree on Destination of Ripple’s $149M XRP Move
CoinTurk News EN and CoinGape both report a roughly $149-150 million XRP transfer tied to Ripple around October 5-6, but disagree on where the funds ended up.
CoinTurk News EN and CoinGape both report a roughly $149-150 million XRP transfer tied to Ripple around October 5-6, but disagree on where the funds ended up.
What all sources agree on
- A large XRP transfer worth approximately $149-150 million occurred around October 5-6.
- The transfer was flagged by on-chain/whale-tracking analysts and drew attention from the XRP community.
- The transaction involved a Ripple-controlled wallet moving funds to a subwallet as part of the process.
- Observers noted the transfer occurred amid speculation about potential selling pressure on XRP.
Where the reports disagree
1Whether the XRP ultimately left Ripple-controlled wallets
The 100 million XRP transaction on Oct 5 moved between two Ripple-controlled addresses; no exchange platforms received the XRP and there is no indication of a sell order.
Shortly after the transaction, the same wallet distributed $150 million in XRP coins to rpxh7h wallet, a subwallet associated with Binance (10) wallet. The coins are currently held at rGMiNv wallet address. The wallet is associated with Binance crypto exchange.
What would settle it: The on-chain transaction record for the relevant Ripple and Binance-associated wallet addresses on the XRP Ledger.
2Whether an exchange platform was involved in the transfer
No exchange platforms received the XRP, and there is no indication of a direct sell order resulting from this transaction.
On-chain transaction data revealed transfers to a Ripple subwallet, followed by further transfers to Binance subwallets.
What would settle it: Public on-chain wallet-labeling data (e.g., XRPScan) confirming or disputing Binance’s association with the destination address.
What to make of it
Treat the existence of a roughly $149-150 million XRP transfer around October 5-6 as established, but do not treat claims about whether the funds reached a Binance-linked wallet as settled until on-chain wallet-labeling data is independently confirmed.
Treat the existence of a roughly $149-150 million XRP transfer around October 5-6 as established, but do not treat claims about whether the funds reached a Binance-linked wallet as settled until on-chain wallet-labeling data is independently confirmed.
Original source: AltcoinGordon
Syndicated coverage. Originally reported by altcoingordon.com.
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