New XRP Whale Gulps 120,000,000 XRP in 1 Hour

A newly-activated XRP whale address recently accumulated over $206 million worth of XRP within an hour.

While the wallet amassed the tokens across two transactions worth 60 million XRP each (about $103 million), an interesting twist involved the use of a central address to route the assets through four different transactions within an hour.

Notably, the accumulation spree follows the latest XRP price collapse, with the asset dropping to a new yearly low below the $1.8 level. Amid a 10% decline since Jan. 29, XRP now changes hands at $1.72, representing its lowest price over the past nine months (excluding the Oct. 10 crash). At this point, it remains unclear if the recent transactions represent part of a “buy-the-dip” campaign or a mere fund shuffle.

Key Points

• A new XRP whale address that was activated a month ago recently accumulated 120 million XRP worth $206 million at the time.
• The accumulation exercise occurred across two equal transactions, but the whale leveraged a central address to re-route the tokens from its source.
• The address used for re-routing was also activated a month ago and has persistently moved millions of XRP tokens to other wallets from the same source.
• Currently, the XRP whale has held onto the accumulated tokens, with an extra 35 million XRP, bringing its total balance to 185 million tokens.
• The latest accumulation campaign follows a recent wave of bearish pressure that has pushed XRP to its lowest level in nine months.

XRP Whale Gulps $206M Worth of XRP

On-chain data confirms that the transactions that set things in motion last night involved three unknown addresses, including rGM…Q9j, the XRP whale in question. Specifically, wallet address rJu…YXE received 60 million XRP worth $103 million at the time from the source rpx…ZY1 yesterday at 21:42 UTC

A few minutes after this transaction, rJu…YXE routed the 60 million XRP tokens to the whale address rGM…Q9j at 21:56 UTC. Nearly an hour later, rJu…YXE received another batch of 60 million tokens from the source rpx…ZY1. It again transferred these tokens to rGM…Q9j at 22:49 UTC.

Overall, rGM…Q9j gulped 120 million XRP tokens worth $206 million at the time in less than an hour. Currently, the XRP whale address holds 185 million XRP tokens. This includes the recent 120 million XRP, as well as 35 million leftover balance from earlier transfers it received from rJu…YXE last month and earlier this month.

Why the XRP Whale Movements?

With no tags on the addresses involved and no statements from any known entity, the reason behind the recent fund movements remains open for interpretation. Notably, the transfers may involve a whale or an institution shifting funds between wallets. Big holders regularly move assets for safety, easier access to liquidity, or internal tracking

However, The Crypto Basic has also reported on similar movements in the past, which actually involved a whale accumulation trend. Such an interpretation would be reasonable, considering whales often engage in quiet buying when the XRP price drops to new lows they find attractive

XRP Hits 9-Month Low

Notably, XRP currently trades at a 9-month low following the latest wave of bearish pressure. Specifically, the asset has dropped by more than 10% since Jan. 29, relinquishing the support at $1.8 and now changing hands around the lower ends of the $1.7 region. XRP trades for $1.72 at press time, a low it last saw in April 2025.