The strange 55,868,599 XRP forwarding land for Ripple account: What’s going on?

This morning, data from the Whale Alert showed that 18,744,800 XRP worth around $55.9 million had been moved from an unidentified wallet to one of Ripple’s main accounts. Of course, the unknown sources and direct routes to Crypto Company have attracted the attention of traders monitoring these flows in search of insight into how Ripple manages XRP holdings.

Those who closely follow these movements, such as “Xrpwallets” accounts, say the process is familiar. Ripple will return to your main account and redistribute tokens to various channels, including on-demand liquidity trajectories, exchange trade products, management structures, and investment vehicles.

This doesn’t make the transfer strange, but the lack of context around timing leaves room for speculation in the market.

Here’s how XRP prices responded:

On the trading side, XRP is currently around $2.99. Support is $2.93 and resistance is $3.05. The daily chart shows the price to stay within this narrow range, but the hourly chart shows a quick drop at $2.95, which matches the quick rebound.

It’s very easy for traders. Over $3.05 can reach $3.20, but if below $2.90, you’ll again test the low range.

It’s not the most rippled-over thing, but the context makes it a big deal. The market is interested in how Ripple handles its reserves, along with a growing interest from institutions and a new talk about possible privacy features in the XRP ledger.

In that case, a $55 million transfer is not a regular adjustment.