Notable XRP Transfer and Market Implications

Popular cryptocurrency XRP recently saw a significant shift of almost 20 million coins, equating to $50.66 million at current prices. The noteworthy aspect of this large-scale transaction is the route; XRP was transferred from one of the top crypto exchanges in the U.S., Gemini, to unknown addresses.

This wallet, created in January, now holds almost 43.73 million XRP, valued at about $112 million. It remains uncertain whether this address is linked to Gemini or controlled by a major unknown investor.

The sentiment surrounding such movements is relatively clear. Market participants often perceive large withdrawals from centralized exchanges as indicative of bullish whale activity. Major investors typically acquire substantial amounts of cryptocurrency on exchanges with sufficient liquidity before transferring it to their own decentralized custody.

> 🚨 🚨 🚨 20,000,000 #XRP (50,656,347 USD) transferred from #Gemini to unknown address source
> — Whale Alert (@whale_alert) February 18, 2025

Thus, whether Gemini merely moved XRP between its wallets may be immaterial. More than 110,000 people noted Whale Alert’s message regarding the $50 million XRP transfer to an unknown address, which could catalyze a ripple effect and influence traders who may not investigate further.

XRP Price Impact

In terms of the consequences of the transfer, it’s noteworthy to analyze XRP’s price action. Following the transfer, XRP’s price momentarily spiked 0.56% within nine minutes. While it’s unclear if this spike was directly tied to the transfer, market observers may find connections worth considering.

Overall, since the beginning of today’s trading session, XRP is currently quoted in red, with its price estimated at $2.55.