An unidentified whale withdrew a combined 577,815,416 XRP from the Uphold exchange across seven separate transactions, according to figures shared by BSCN, which cited blockchain transaction tracker Whale Alert. At the time of the report, the withdrawn holdings were valued at approximately $900 million. The identity of the wallet behind the transfers was not disclosed.

Nearly 578 Million XRP Moved

The seven transactions totaled 577,815,416 XRP, per figures shared by BSCN in a post on X. That quantity amounts to roughly 0.6% of XRP's fixed maximum supply of 100 billion tokens, a measure of the scale of the transfer. While the sheer size of the movement makes it notable, the available transaction data does not establish who controls the receiving wallet or why the XRP was withdrawn.

Whale Alert monitors large cryptocurrency transactions on public blockchains and reports wallet movements without necessarily identifying the individuals or entities that control the addresses involved.

Ripple Connection Remains Unconfirmed

XRP is the digital asset associated with blockchain payments firm Ripple, which is known to hold large amounts of the token, a substantial share of it in on-ledger escrow. For that reason, sizable XRP transfers routinely prompt questions about the company's involvement. BSCN raised the possibility that the transfers could be connected to the company, asking whether the movement was carried out by Ripple itself. However, the post offered no evidence confirming a link between the receiving wallet and Ripple, leaving the Ripple reference a question rather than an established attribution.

The on-chain transactions confirm that XRP moved out of Uphold, but they do not by themselves reveal the identity or intentions of the recipient. They also do not establish whether the funds were transferred for custody, internal wallet management, settlement, trading, or another purpose.

Exchange Outflows, Not Deposits

The reported activity consisted of XRP leaving Uphold rather than being deposited into the platform — a distinction that is relevant when interpreting the transactions, since withdrawals reduce the assets an exchange holds in its own on-chain wallets, although the destination and purpose of the funds remain unknown based on the information provided.

No additional explanation from the wallet owner, nor a confirmed statement from Ripple, was included in the original post. What would clarify the picture going forward is further observable on-chain activity from the receiving address, or direct confirmation from the wallet's controller or from Ripple itself. For now, the key confirmed detail remains the movement of 577,815,416 XRP out of Uphold in seven transactions, while the identity of the whale and any potential Ripple connection stay unconfirmed.

Source: Hokan