A Ripple-linked address moved 50 million XRP to a new wallet, and 1 million of those tokens later moved again to a Binance-linked wallet.

On Aug. 13, blockchain outlet The Crypto Basic reported that the transfers are drawing attention as a signal of possible internal reshuffling between Ripple wallets and whether short-term selling supply may emerge.

On-chain data showed an address labeled "Ripple (50)" sent 50 million XRP on Aug. 13 to the address raRV...yNRf. The tokens were valued at $50.5 million at the time. The address had previously received 150 million XRP from the "Ripple (1)" wallet on Aug. 7 and held the tokens for a period without further withdrawals.

The flow changed starting Aug. 10. The Ripple (50) address split a total of 745,000 XRP and sent it to 3 unidentified addresses that day. It then moved just over 4 million XRP on Aug. 11 to another unidentified address, rP4X...Kxv3, and sent 36,000 XRP on Aug. 12 to rP7j...8JvE. The 50 million transfer is the largest transaction since it received 150 million XRP.

The Ripple (50) address still has 158 million XRP remaining. That is because it held tokens before the recent receipt of 150 million. The new receiving address, raRV...yNRf, appears to be unidentified but has been seen to have a connection to Ripple based on on-chain flows. The address was activated from rP4X...Kxv3, and that address has a record of having been activated by the Ripple (50) address in October 2023.

This linkage raises the possibility that Ripple is moving XRP among related addresses before sending it to a final destination. In fact, raRV...yNRf has so far moved only 1 million out of the 50 million it received. That amount was sent on Aug. 13 to a wallet linked to Binance, and the remaining 49 million is still held at the address.

Market participants are watching whether the 1 million transfer leads to actual selling. So far, what has been confirmed is a transfer to an exchange-linked wallet, and on-chain data alone cannot determine whether trades were executed.

Price action is also weak. XRP traded in the $1 range and posted its lowest recent closing price since 2024. On charts, it is moving within a falling wedge pattern, with selling pressure repeatedly blocking a breakout above the upper trend line.

The key short-term range was presented as $1.00 to $1.015. If that level holds, sideways movement could continue, but a break could increase the chance of further declines. If it rises above $1.022, it could be a first rebound signal, with a resistance zone of $1.05 to $1.07 discussed as the next target. If a stronger rebound emerges, $1.1796 could also come into view.

Derivatives indicators are still sending warning signals. Open interest rose to $986.48 million, while the long-short ratio was 3.095 and the funding rate was measured at 0.0087. That shows a high share of long positions and implies liquidation risk could increase if support breaks.

Technical indicators also remain cautious. XRP is staying below the 20-day, 50-day, 100-day and 200-day exponential moving averages. The daily relative strength index fell to 36.2, nearing oversold territory, but it was also presented that this is not enough to confirm selling pressure has ended. In this situation, the next movement path of the remaining 49 million XRP was raised as likely to have a meaningful impact on short-term market sentiment.