Read this article on bsc.news Two large transfers of $XRP, each of 120 million tokens, were recorded on the XRP Ledger in the early hours of November 15, according to on-chain tracking servic
Two large transfers of $XRP, each of 120 million tokens, were recorded on the XRP Ledger in the early hours of November 15, according to on-chain tracking service @whale_alert. Together the 240 million tokens were worth about $215.2 million.
The movements coincided with a sharp drop in the price of Ripple's native token. XRP fell to $0.89 overnight on Nov. 15, its lowest level in two years, according to TradingView. It later recovered to $0.963.
The transfers were closely spaced. They were made seven minutes apart, according to XRPSCAN and Bithomp data. The coins left an unlabeled address starting with rGMiNv, went to an intermediate wallet starting with r3bh7p, and then moved almost instantly to a third address starting with rpxh7h. After the second transfer, only 98 XRP remained on the first address.
The purpose of the transfers has not been confirmed. TrackWhale marked the wallet activity as a "rotation". According to XRPSCAN, none of the three addresses is linked to a crypto exchange or to Ripple's escrow accounts, and the owner of the wallets is not known. Because the coins did not reach an exchange, the data does not point to direct selling pressure from these moves.
Large transfers between unlabeled wallets can reflect internal reshuffling, custody changes or over-the-counter deals. Without a confirmed owner, any reading remains speculation.
The price drop came alongside weakness in XRP investment products. SoSoValue data showed a net withdrawal of $19.13 million from U.S. spot XRP ETFs from November 9 to November 13, the weakest weekly performance for these products since March 2026.
For context, Ripple's regular supply activity looks different from this event. Ripple has said it has operated a monthly escrow mechanism since 2017, locking up a significant portion of its XRP holdings to provide market transparency. Those contracts release 1 billion XRP into Ripple's account on the first of every month , so large movements on other dates, and from addresses outside the escrow system, are not part of that schedule.
Traders will be watching whether the coins stay dormant or move on to an exchange, which would be a stronger signal of possible distribution.
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