Uphold Transfers $648.7M Worth of XRP to Unknown Wallets

A significant amount of XRP has been transferred from Uphold to unknown wallets in five separate transactions, totaling $648.7 million at the time of transfer.

The transfers were made within a short window, with XRP's price fluctuating between each transaction. The first transfer was worth $130.3 million, while the remaining four came in at around $129.6 million each.

Some observers have interpreted this unusual pattern as a treasury migration signature rather than an organic buyer, suggesting higher institutional demand for XRP.