Ripple has transferred 150 million XRP, worth approximately $85 million, in the midst of growing excitement over a potential XRP ETF. Whale Alert, a well-known blockchain tracker, reported the transaction. The transfer was completed early Friday at 4:40 AM (UTC), with Ripple moving the funds from its affiliated address “rBg…91m” to an unidentified wallet, “rP4…xv3.”
Recurring Transfers to the Same Wallet
On-chain data reveals that the receiving wallet has a history of large XRP transfers from Ripple. This address has repeatedly received significant XRP inflows from the payment giant. For instance, Ripple moved 200 million XRP to the same wallet in August. In addition, another transfer of 150 million XRP occurred on July 9, continuing the pattern of large transactions between Ripple and this wallet.
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Bithomp data shows that the “rP4…xv3” wallet still holds the 150 million XRP received on Friday. Activated on October 2, 2023, the wallet’s total balance reached 218 million XRP after this transaction. Meanwhile, Ripple’s sending address, which operates with multi-signature functionality, still possesses 200 million XRP.
XRP ETF Rumors Gain Traction
Speculation about an XRP ETF has gained momentum following Grayscale’s recent announcement of its Grayscale XRP Trust. Grayscale has a history of converting trusts into ETF products, as it has done with Bitcoin and Ethereum in the past.
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Experts suggest that the launch of an XRP ETF could occur within four to eight months. However, uncertainty remains, as XRP is still entangled in legal challenges with the U.S. Securities and Exchange Commission (SEC). The SEC has until October 6 to appeal a recent court ruling, which could reignite the legal battle.
The growing ETF rumors have positively impacted XRP’s price. Following Grayscale’s announcement, XRP’s price rose over 4% in the past 24 hours, reaching $0.5611 at the time of publication.
