As XRP fell below $1.20, 140,351,238 XRP moved to a newly active whale wallet. The stash was worth about $167.7 million, and the receiving wallet took the full amount in a single transaction.

Blockchain outlet The Crypto Basic reported on Nov. 9 that the transaction occurred on Nov. 6. The receiving address was 'rMc…uXB', a wallet that had been activated on Oct. 5 and had been empty.

The wallet previously held 32 XRP, and its balance jumped after the transfer. No record of an outbound transfer was confirmed.

XRP showed weakness at the same time. After breaking below the $1.20 support level it had held since August, it slid as far as $1.17 intraday. It was trading around $1.10, and its decline over the past 30 days reached 20 percent.

Still, it is hard to conclude the move was new accumulation. The sending address, 'rN3…opY', was the address that directly activated the receiving wallet in October. Ownership of the two addresses was not confirmed, but the transaction structure raises the possibility of an internal wallet reshuffle rather than external buying.

The origin of the sending wallet also stood out. A Bitstamp-linked address activated the wallet in January 2026, and it still held about 238 million XRP after the transfer. The total amount, including the recently sent 140,351,238 XRP, also came from the same Bitstamp-linked source.

Movements by large XRP holders also increased. Crypto analyst Ali Martinez (알리 마르티네스) said whale holdings rose by about 60 million XRP over the past seven days. According to analyst Darkpost, 418.5 million XRP also left Binance on Nov. 4, the largest single-day outflow in nine months.

Santiment data showed a similar trend. The number of wallets holding at least 1 million XRP rose to 2,147, the highest level so far in 2026. It shows large holders continuing to move or accumulate XRP even during a market downturn.

But increased whale activity did not immediately lead to a price rebound. XRP slid to $1.10, its weakest level since Aug. 22. It had earlier tried to recover to around $1.35, but selling pressure regained the upper hand and the upward move stalled. Large on-chain transfers have risen in this situation, but based on currently confirmed information it remains a key variable for interpreting XRP supply and demand whether the moves reflect new inflows or a reshuffling of existing holdings.