Uphold Wallet Shuffles $206M in XRP Amid Market Volatility

A massive transfer of $206 million worth of XRP has left an Uphold wallet, but it's not necessarily cause for concern among traders.

The transaction saw 145,634,500 XRP move from one Uphold address to another on September 14. However, on-chain records indicate that this was simply a custody reshuffle rather than a whale exit.

Xrpscan data reveals that the receiving wallet was activated by Uphold on May 19 and remained dormant until the transfer. The wallet in question still holds about $1.47 billion XRP, according to Xrpscan data from September 15.

The transaction size may have raised eyebrows, especially considering XRP's price surge to $1.49 on September 14. However, exchange wallet shuffles are relatively common and rarely signal selling on their own.