Blockchain monitoring service Whale Alert recently tracked a massive XRP transaction involving 98,292,623 XRP, valued at approximately $219,121,793. The XRP originated from an unknown wallet and landed in a newly activated blockchain address that had only one previous incoming transaction.
Given the size and timing of this movement, market observers speculate it could signify either an over-the-counter (OTC) purchase or the reallocation of funds by an established XRP holder. However, the fact that the recipient address had no prior activity beyond this and one other deposit hints at the potential formation of a new XRP whale.
Another Significant Transfer Found on April 28
This large-scale transfer follows another substantial XRP movement spotted just two days earlier. On April 28, Whale Alert detected a transfer of 29,532,534 XRP, equivalent to around $68,722,825. At first, the transaction seemed mysterious, raising questions across the crypto community—especially since it involved Coinbase, the largest U.S.-based cryptocurrency exchange.
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However, the exchange later clarified that the transaction was internal, moving XRP between two Coinbase wallets. This effectively dismissed any speculation about whale accumulation or unusual market activity in that case.
XRP ETF Rumors Dispelled by Bloomberg
In a related development, Bloomberg addressed and dismissed rumors regarding the launch of XRP-backed ETFs by BlackRock’s ProShares. Some crypto news outlets misinterpreted an old regulatory filing dated April 30, sparking false expectations of an ETF launch.
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Bloomberg clarified that these reports lacked any official confirmation from ProShares. Analysts now expect the SEC to make a formal announcement concerning the ETF filing on May 14. Additionally, Franklin Templeton, another major financial entity, also awaits the SEC’s decision on its proposed XRP ETF, which followed closely after its Solana ETF filing in March.
The sudden emergence of a new wallet receiving over 98 million XRP raises questions about new players entering the XRP ecosystem. While the identity behind the transaction remains unknown, the move suggests growing interest in Ripple’s native token. Meanwhile, the ETF rumors reflect ongoing anticipation surrounding institutional adoption, although clarity from regulators remains pending.
