Ripple Transfers Significant XRP Amounts Amid ETF Activity
- A Ripple wallet transferred 35 million XRP ($52.4 million) to an unlabeled address on Oct. 2.
- US spot XRP ETFs saw a net inflow of $4.07 million on Oct. 1, with Franklin’s XRPZ fund receiving the majority.
- Ripple unlocked one billion XRP from escrow on Oct. 1, with traders monitoring subsequent escrow actions.
- The receiving wallet redistributed approximately 6.5 million XRP within hours to another address.
- XRP is trading near $1.52, showing a modest increase of about 0.6% over the past day.
The movement of significant XRP amounts by Ripple coincides with notable ETF inflows and market activity, drawing attention from traders and analysts alike.
Despite the large transfers and ETF activity, XRP’s market price remains relatively stable, reflecting a calm market sentiment during this period.(Source)
