According to XRPWallets, citing Whale Alert, 127.4 million XRP — worth $172.5 million — was recently transferred from a Coinbase-linked wallet to Bitstamp. At first glance, it seems like the usual XRP shuffle between exchanges, but there is an uncommon detail with the receiving wallet that has been monitored since late 2024 and is suspected of being tied to Ripple’s liquidity operations.
Ripple connection: Why this “unknown” wallet matters
Yes, Ripple exited its minority stake in Bitstamp during the 2025 sale to Robinhood, but the exchange remains a key node for the company’s cross-border payments business. Moreover, it is still one of largest venues for XRP trading globally, with around 130,7 million tokens on its balance, according to CoinMarketCap.
All things considered, the transfer’s size, origin and destination suggest potential liquidity provisioning or infrastructure alignment, not just simple exchange deposits, especially as XRP dropped below key resistance at $1.48.
At first, today’s 127,400,577 XRP transfer was marked by Whale Alert as one between the unknown wallets. However, community account XRPWallets quickly went behind the scenes, revealing the Coinbase-to-Bitstamp trail.
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The wallet receiving the funds is not new to researchers. It has been active since late 2024 and is believed to belong to Ripple, which will not be surprising, with Bitstamp as both a strategic liquidity node of the company and a high-throughput venue for XRP flows — especially for fiat ramps in Europe.
From the first thought, today’s transfer — from a U.S. platform to a high-volume XRP market — suggests the funds are being positioned by Ripple, if it is indeed its wallet, for structured use in cross-border services rather than liquidation.