Uphold Transfers Half a Billion XRP to New Wallets
- On September 17, a wallet labeled Uphold (12) transferred five payments of 100 million XRP each, totaling 500 million XRP, to new addresses.
- All five recipient wallets were activated by Uphold on the same day and still hold the entire amount.
- Bitcoin was priced around $76,600 while XRP traded near $1.30 during these transactions.
- The transfers did not affect any order books as XRP remained stable between $1.29 and $1.32.
- This move follows another large transfer by Uphold on September 14 involving a different wallet and a transfer of over 145 million XRP.
The significant transfer of half a billion XRP from Uphold to newly activated wallets drew attention due to its size and execution method, suggesting potential institutional involvement or internal restructuring.
Despite the large-scale movement of funds, the market price of XRP remained relatively stable, highlighting that such transactions do not always impact immediate market conditions.(Source)
