- Massive $55.9M XRP transfer sparks intense speculation among traders.
- Ripple’s latest wallet movement hints at strategic liquidity management.
- XRP payment volume surges to 1.58 billion, signaling institutional activity.
A major XRP transfer has captured market attention after data from Whale Alert showed that 18,744,800 XRP, worth around $55.9 million, were moved from an unknown wallet to one of Ripple’s primary accounts.
According to the “XRPwallets” account on X, this transfer follows Ripple’s established pattern of consolidating tokens before redistribution. The company frequently channels XRP through its main account and later allocates it to On-Demand Liquidity corridors, custodial structures, and institutional investment products.
This approach allows Ripple to manage liquidity effectively, though the exact timing of the transaction has fueled market speculation.
Moreover, the absence of an official statement from Ripple has encouraged further analysis among traders and on-chain experts. Many believe the company could be preparing for new liquidity allocations or an adjustment to its global payment channels. As a result, investors are keeping a close watch on wallet activity and broader market signals.
Also Read: Pundit: Why You Only Need 1,000 XRP to Become Rich in The Next Few Years
XRP Price Holds Firm Amid Market Buzz
Despite the large transaction, XRP has held steady in a narrow trading range. The token is currently priced near $2.99, supported at $2.93, and capped by resistance at $3.05. Hourly charts reveal quick dips toward $2.95 followed by rapid rebounds, suggesting consistent buying pressure from active traders.
Source: Tradingview
If XRP breaks above the $3.05 mark, analysts believe it could move toward $3.20. Conversely, a decline below $2.90 could lead to a retest of the lower range. Market sentiment remains balanced, with cautious optimism prevailing among short-term traders.
On-Chain Activity Surges as XRP Payment Volume Hits 1.58 Billion
Separately, XRP has experienced a sharp increase in on-chain activity, with daily payment volume surging to 1.58 billion XRP on September 4. This notable spike has drawn significant attention from analysts, who interpret it as a sign of institutional engagement rather than retail speculation.
Experts suggest that larger players may be expanding their use of XRP within RippleNet and other payment networks. The rising transaction volume reinforces XRP’s growing real-world utility, particularly in cross-border settlements.
As institutional interest strengthens, many in the market view this development as a potential driver for XRP’s long-term growth and sustained adoption.
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