Ripple Moves $498 Million As Major XRP Lawsuit Deadline Approaches

A total of 230 million XRP, worth more than $498 million, has left the wallet associated with Ripple to an unnamed wallet. The movement was brought to X by Whale Alert and has drawn the attention of many cryptocurrency enthusiasts.

Ripple Raises Eyebrows With 230 Million XRP Transfer

Whale Alert data shows that Ripple moved 230 million XRP to an unknown wallet. This immediately sparked speculation within the crypto community about the reason for the transfer, especially considering it was unrelated to the monthly escrows.

However, a closer look at the on-chain data shows that the crypto firm activated the wallet (rP4X2….sKxv3), indicating that it likely belongs to the firm and the transfer was likely for security purposes. It is worth mentioning that the wallet, which received the $498 million, then transferred 20 million XRP to another wallet (raRVL….qyNRf), which is also likely a Ripple wallet.

These transfers come amid the fast-approaching June 16 deadline in the XRP lawsuit. As CoinGape reported, legal expert Bill Morgan predicts the SEC will file its status report to the Appeal Court before then. Meanwhile, these transfers are unlikely to relate to the lawsuit as Ripple’s $125 million monetary judgment is still in escrow.

XRP Ledger Sees Big Inflow on Binance

Amid the Ripple transfer, the XRP Ledger has recorded an increase in inflows on Binance, according to recent data from CryptoQuant. On June 6, 2025, XRP inflow rose suddenly to 47.8 million, much more than the previous day’s 5 million.

The increase indicates that cryptocurrency is gaining the attention of traders and investors. Even though there has been an increase in inflow, the price of this cryptocurrency has stayed near $2.19.

This chart, shared by CryptoQuant, tracks the exchange inflow from June 5 to June 6. On June 5, the inflow was modest, but it jumped dramatically by June 6. Exchange inflow means the amount of XRP being moved into Binance, a major crypto trading platform. If such an amount of digital asset moves to this platform, it may mean that some holders want to trade or sell it here.

However, the XRP price remains steady, indicating that the transaction hasn’t yet influenced the price. The altcoin is trading at around $2.17, recording minimal gains in the last 24 hours.