TLDR
- Private wallet transfer of 100M XRP tokens ($51M) detected
- Network reaches 12,230 active addresses in October
- Over 18,000 new wallets created (10.39% growth)
- Trading platforms hold 3.11B XRP tokens
- Futures trading volume hits $701.52M
A mystery XRP holder has moved $51 million worth of tokens between private wallets, marking one of October’s largest single transfers.
The movement, tracked on October 29, 2024, comes as the XRP network reports its highest activity levels in six months.
Blockchain tracking systems detected the transfer of 100 million XRP tokens between two unnamed wallets. The transfer bypassed major cryptocurrency exchanges, suggesting the holder aims to maintain their position rather than sell.
The XRP network has welcomed 18,321 new wallets in the past day, marking a 10.39% increase in user accounts. This surge in new wallets represents one of the strongest daily growth rates in recent months.
Active addresses on the network have climbed to 12,230, reaching a six-month high. This metric shows how many unique addresses interact with the network daily, providing insight into user engagement levels.
Transaction volume has grown steadily, with the network processing 1.5655 million transactions in 24 hours. This represents a 1.24% increase from the previous day, showing consistent network usage.
The price of XRP holds at $0.5192, showing a modest 0.46% increase. Trading patterns suggest the token maintains stability while testing resistance levels near $0.60.

Cryptocurrency exchanges currently hold 3.11 billion XRP tokens in their reserves. This figure marks a small 0.36% increase, indicating slight changes in exchange-held assets.
The futures market shows growing trader interest, with open interest reaching $701.52 million. This 1.61% increase suggests more traders are taking positions in XRP derivatives.
Technical indicators paint a neutral picture. The token trades near the middle of its Bollinger Bands range, while the RSI reads 41.83, approaching levels that traditionally indicate oversold conditions.
Market analyst Egrag Crypto has shared price targets based on Bitcoin’s movement. Their analysis suggests XRP could reach $4.43 if Bitcoin hits $100,000, with additional targets scaling up to $8.86 at Bitcoin $200,000.
Another market watcher, Dark Defender, points to historical patterns showing XRP price movements often follow decreases in Bitcoin’s market dominance. Their analysis draws from similar patterns observed in 2017 and 2021.
When #bitcoin dominance is in decline:$XRP Bull Run Starts.
It was the case in 2017 & 2021.
The story repeats itself:
XRP Run In a Nutshell. pic.twitter.com/xMQAJEgohX
— Dark Defender (@DefendDark) October 28, 2024
The network’s steady growth in daily transactions shows regular use for value transfer. New wallet creation continues at a steady pace, indicating sustained interest in joining the XRP ecosystem.
Exchange reserves data shows most tokens remain in private wallets rather than on trading platforms. This holding pattern often indicates long-term investment strategies among token holders.
The $51 million transfer occurs as the market processes recent legal developments between Ripple and regulators. The movement between private wallets, rather than to exchanges, may reflect holder confidence in the token’s position.
Current market conditions show XRP maintaining support above $0.50 while testing higher resistance levels. Trading volumes remain consistent across major exchanges, indicating steady market participation.
The growth in network metrics, combined with large transfers between private wallets, provides data points for market participants tracking XRP’s development. These measurements help traders and investors gauge market health and potential price movement.
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