Uphold Transfers $206M in XRP Amid Market Attention
- On September 14, Uphold transferred 145,634,500 XRP, valued at $206,551,114.
- The receiving wallet was activated by Uphold on May 19 and remained inactive until the transfer.
- Uphold’s largest labeled XRP wallet still holds approximately 1.47 billion XRP as of September 15.
- The transaction occurred during a week when XRP prices peaked at $1.49.
- Spot XRP exchange-traded funds (ETFs) saw an inflow of $18.98 million in the week ending September 11.
Uphold’s significant transfer of XRP drew attention due to its size and timing, coinciding with notable market activity and legislative developments affecting cryptocurrency markets. The receiving address had been dormant for several months before this transaction, suggesting strategic custody management rather than immediate selling pressure.
This move highlights how large exchanges manage substantial holdings without necessarily impacting market liquidity directly.(Source)
