A significant transaction involving XRP has been reported, with an impressive 44.1 million tokens, valued at around $97 million at today’s rates, being transferred from the Turkish crypto exchange Paribu to an unidentified wallet.
This unexpected movement was brought to light by an XRP investor known as Xaif on the social media platform X, occurring against a backdrop of speculation about potential price surges, even as some analysts express concerns about a shifting bullish sentiment concerning the cryptocurrency.
Massive XRP Transfer from Paribu to Unnamed Wallet
On May 31, 2025, precisely at 09:51 AM UTC, a transaction that involved 44,100,000 XRP was successfully completed on the XRP Ledger. The source of this transaction was identified as Paribu, prominently recognized as one of Turkey’s leading cryptocurrency exchanges.
The fact that the tokens were moved to an address labeled “rKeWg9,” which lacks prior association with any mainstream exchange or custodian, adds intrigue to the story. This type of behavior raises questions and curiosity about potential future strategies.
Data from the blockchain confirms that the entire transaction was processed with a minimal fee of just 0.00001 XRP. Observers suggest that this move might be a strategic indication from a large-scale investor, hinting at an accumulation trend.
Selling pressure typically decreases when crypto tokens are moved off exchanges, as this generally indicates a shift toward long-term holding.
Often, significant transfers like this suggest purchases made by institutions or high-net-worth individuals, positioning themselves in expectation of potential price escalations. In a market as volatile as crypto, such movements can have substantial psychological implications.
This event has fostered a sense of optimism among smaller investors, prompting speculation about whether it will attract more participants anticipating a price rally.
Is a Giga Pump on the Horizon for XRP?
The anticipation is further fueled by an assertive statement from market analyst Amonyx, who recently shared a highly optimistic view of XRP’s future. The analyst noted that XRP is poised for a dramatic price increase, often referred to as a “giga pump,” over the long term.
Amonyx’s chart illustrates a long-term symmetrical triangle breakout, suggesting that XRP has successfully navigated beyond a prolonged consolidation phase that has persisted since 2018.
This breakout draws parallels to Bitcoin’s similar occurrences in 2016, leading Amonyx to forecast a comparable trajectory for XRP’s price progression.
The chart provided highlights an upside Fibonacci extension target exceeding $27.16, with a more aggressive resistance zone near $71.41, indicating potential for significant upward momentum on a macro scale. Achieving these milestones could put XRP in close competition with Ethereum, or even Bitcoin, regarding market capitalization.
As of now, XRP is trading at $2.19, reflecting a 1.33% increase over the last 24 hours.
Image featured from Unsplash, chart sourced from TradingView
