A strikingly large transfer had crypto whale tracking agencies on their feet last night. The gigantic 200,000,000 XRP coin swap between two on-chain wallets had market observers guessing the purpose of this large act.
Mystery Behind XRPโs $439M Transfer
Also, the transfer preluded a move from the U.S. Securities and Exchange Commission (SEC) to postpone Franklin Templetonโs Ripple ETF pitch. Indeed, Franklin Templeton is one of the most realistic candidates to launch an XRP exchange-traded fund (ETF), as the financial behemoth has over $1.4T assets under management (AUM).
Regardless, XRP believers, popularly referred to as XRP Army, will have to wait a bit longer. According to the updated XRP ETF decision list, Franklin Templetonโs ETF is going to be reviewed until October 25, 2025. This also falls in the same category as Wisdom Tree & CoinShares XRP ETF product submissions for SECโs consideration.
True Whale Intentions & Key ETF Dates
Upon further investigation by DailyCoinโs dedicated research team, it was established that the two crypto wallets in question belong to Ripple Labs. They are accordingly labelled โRipple 1โ & โRipple 50โ on XRPโs official blockchain explorer, hinting at this 200M XRP coin transfer being nothing more than a monthly maintenance move between hot wallets.
Awaiting a decision from both the U.S. Securities and Exchange Commission (SEC) & the District Court, the first month of Summer is going to be sizzling hot for Ripple in the courts. Precisely, both SEC & Ripple are looking for legal confirmation to settle the 6-year long case for $50 million, releasing $125 million of XRP coins in escrow once granted approval.
Meanwhile, all 11 XRP ETF submissions are now out in the open until mid October, 2025. Grayscale, 21Shares & Bitwise are likely to get a decision on their Ripple ETF pitches first, while Canary Capital is expected to be given an answer a day before Franklin Templetonโs ETF assessment. At press time, Ripple (XRP) crypto is trading at $2.15, CoinGecko says.
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People Also Ask:
Ripple transferred 200M XRP, worth ~$439M, between its hot wallets, per DailyCoinโs research. This is likely an internal re-balance or treasury management, not a sale. Just routine crypto shuffling.
The XRP ETF, which would let you trade XRP like a stock, is stuck due to regulatory roadblocks. The SECโs ongoing scrutiny of Rippleโs legal status is slowing things down in the ETF world.
Since itโs a transfer between Rippleโs hot wallets, not a sale, price impact should be minimal. But cryptoโs wildโETF news or market FUD could still shake things. Keep an eye on the charts!
XRP has big potential but carries risks like volatility and legal battles. Do your own research (DYOR) before diving in. Only toss in what youโre okay losing in the crypto chaos.
Rippleโs chasing ETF approval and global use cases, but the SECโs watching closely. Watch for ETF updates or more wallet moves. The crypto sceneโs always got some moon-or-doom action!
