A massive $60,585,668 XRP transfer has stirred bullish sentiment on a leading South Korean exchange. Blockchain tracker Whale Alert reported that 20,000,000 XRP valued at approximately $60.6 million moved from Upbit to an unknown wallet.
Large withdrawals from centralized exchanges often signal accumulation rather than immediate trading. Whales typically move their holdings to private wallets when planning long-term storage. This latest transfer aligns with the growing trend of self-custody among high-value XRP holders. By moving funds off-exchange, whales aim to secure their crypto assets and potentially prepare for future price appreciation.
Price Action Shows Recovery
At press time, XRP traded at $3.03, up 0.93% in the last 24 hours. The token hit an intraday high of $3.10 before facing resistance. Despite the pullback, XRP has maintained two consecutive days of gains, rebounding from Sunday’s low of $2.72.
24-hour price chart Source: CoinMarketCap
If bullish momentum continues and XRP holds above $3, analysts expect potential upside. However, failing to sustain this level could bring the $2.55–$2.40 support zone back into play. Additional whale accumulation may serve as a catalyst for another breakout attempt.
Companies Add XRP to Balance Sheets
Adding to the bullish outlook, XRP enthusiast Bill Morgan highlighted recent corporate moves involving XRP. Hyperscale’s latest Form 8-K filing revealed plans to provide monthly updates on its digital asset holdings starting this month. The first report will reflect initial XRP added to its balance sheet.
Related article: XRP Drops Below $3 as Technical Indicators Signal a Possible Fall to $2.39
Previously, on May 28, 2025, Hyperscale announced that its subsidiary, Ault Capital Group Inc., intended to purchase $10 million in XRP. Meanwhile, Flora Growth Corp disclosed in its Form 10-Q filing that it also holds XRP, alongside Solana and Ethereum. The company stated on its website that it invested in digital assets to strengthen its balance sheet.
With large holders moving funds off exchanges and corporations adding XRP to their assets, market participants remain optimistic. Continued accumulation and rising institutional interest could fuel XRP’s next significant price move.
