One of the largest single-day exchange outflows in recent XRP history has the crypto community asking one question: was it Ripple? According to @whale_alert, a total of 577,815,416 $XRP token
One of the largest single-day exchange outflows in recent XRP history has the crypto community asking one question: was it Ripple?
According to @whale_alert, a total of 577,815,416 $XRP tokens were pulled from the @UpholdInc exchange across seven separate transactions. At the time of the withdrawals, the tokens were valued at roughly $900 million, making this one of the most closely watched on-chain events of the month.
The scale of the move is difficult to ignore. Spread across multiple transactions rather than a single bulk transfer, the withdrawal pattern has added to speculation that this was a coordinated, institutional-level action rather than a routine customer withdrawal. The identity of the entity behind the move remains unconfirmed.
Ripple, the blockchain payments company behind XRP, routinely moves large volumes of the token as part of its monthly escrow release schedule. Whale Alert regularly flags these transfers, and Ripple typically returns the unused majority, often 600 to 800 million tokens or more, to fresh escrow contracts within days. Whether this latest movement is connected to that cycle or represents a separate, unrelated actor is not yet clear.
It is also worth noting that large XRP transfers from Uphold do not always signal a whale exit. On-chain analysis has previously shown that wallets created by an exchange can ping back to another wallet of that same exchange, and whales leaving a platform do not usually have their destination wallets opened by that platform months in advance. In other words, what looks like a withdrawal on the surface can sometimes be an internal custody reshuffle.
This event comes against a backdrop of elevated whale activity across XRP markets this year. Combined outflows from major exchanges including Binance and Upbit have at times reached hundreds of millions of XRP in a single drawdown, though analysts note such withdrawals are often concentrated on specific platforms and do not always reflect a broad market-wide trend.
When assets move out of exchanges at scale, market analysts typically read the negative netflow as a potentially bullish signal, as it suggests tokens are moving into private custody rather than remaining available for immediate sale. Whether that interpretation holds here will depend on where these tokens ultimately flow.
$XRP has been trading in a consolidation range through September 2026. Through mid-September, XRP settled into the $1.20 to $1.40 range after its August surge, sitting roughly 30 percent above its summer lows but still well below its cycle high, with ETF holdings growing modestly and Ripple's monthly escrow releases remaining the key supply overhang.
The identity of the wallet or entity behind the 577 million $XRP withdrawal has not been publicly confirmed. Ripple has not commented on the transactions at the time of writing.
Sources:Ripple XRP escrow explained: monthly unlock guide (crypto.news)Uphold XRP transfer analysis: custody move or whale exit? (Bitcoin.com News)XRP price and market overview, September 2026 (crypto.news)
