Millions In XRP Just Hit Binance from a Ripple-linked Wallet

Crypto analyst Steph Is Crypto (@Steph_iscrypto) raised alarms on X, claiming a Ripple-linked wallet sent 134.5 million XRP directly to Binance. The transfer hit as XRP was already declining through June, putting further pressure on a token that has struggled to hold recent gains.

A Transfer That Demands Attention

The numbers are hard to ignore. At XRP’s current price of $1.17, the transfer is worth approximately $157.4 million moving onto one of the world’s largest exchanges in a single transaction. Transfers of this scale from Ripple-linked wallets consistently generate concern across the XRP community.

While Steph placed the transaction at 134 million tokens, that figure is unconfirmed. However, Whale Alert, a popular whale tracker, reported a transfer of 50 million tokens ($59.14 million). This transfer has raised many questions, but transfers like this are part of a broader pattern.

Ripple’s operational wallets regularly route XRP through subwallets before distributing funds to exchange-associated addresses. The company has pointed to its On-Demand Liquidity (ODL) product as the primary driver of these flows. ODL uses XRP as a bridge currency for cross-border payments, requiring active exchange liquidity.

Old Accusations, New Transaction

Ripple has faced accusations of market manipulation for years. Critics argue the company uses its enormous XRP holdings to suppress the price, selling into rallies and flooding exchanges when retail sentiment turns positive. Many in the community see every large Binance transfer as evidence of this pattern.

Comments on Steph’s post reflected that sentiment. Some users called it outright price manipulation. Others pointed to the timing, accusing Ripple of dumping XRP on retail holders.

Ripple has consistently denied these accusations. The company publishes quarterly XRP Markets Reports to disclose its sales activity, which it says occurs primarily through over-the-counter transactions with institutional buyers rather than open market activity.

What the Transaction Could Mean

There are several possibilities. The transfer could be ODL-related liquidity provisioning for Ripple’s payment corridors. It could be an institutional allocation to a buyer using Binance as the settlement venue. It could also represent direct market activity.

XRP has faced consistent selling pressure through June. The Binance transfer added fuel to existing concerns about Ripple’s role in price action. Whether the transaction reflects operational activity or deliberate market timing, the community’s reaction shows that trust between Ripple and parts of the XRP community remains thin.

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