Large XRP Move Leaves Uphold Wallet Amid Custody Shuffle

Crypto trackers spotted a large transfer of 145,634,500 XRP on September 14. The transaction, valued at approximately 206 million dollars, saw a labeled Uphold wallet emptied in a single move. This triggered automatic alerts across the industry as observers wondered if a major holder was cashing out.

Despite the initial alarm, onchain data indicates this was not a sell order. The funds moved to another wallet linked to the platform, suggesting an internal custody reshuffle. Exchanges often move significant assets between cold and hot wallets to manage security and liquidity needs during routine operations.

Traders should keep an eye on official exchange communications to confirm these custodial changes. While the transaction was large, the lack of movement toward decentralized exchanges or unknown addresses signals that the supply remains under platform control for now.