50M XRP on the Move as Ripple-Linked Wallet Adds Pressure Near $1

XRP is hovering around the critical $1 support level as a Ripple-linked wallet transferred 50 million tokens toward Binance, while rising ledger activity and a strong concentration of long positions add pressure to the setup.

A wallet associated with Ripple moved 50 million XRP, valued at more than $50 million at the time, into an internal subwallet on Aug. 13. The transfer occurred as XRP closed near $1, marking its lowest daily close since November 2024. Meanwhile, aggregate derivatives open interest approached $986.48 million.

Blockchain records indicate that the Ripple (50) wallet first sent the tokens to raRVLN1, an internal subwallet. The transaction attracted attention because it coincided with XRP testing an important support zone while derivatives traders remained heavily tilted toward long positions.

Ripple-Linked XRP Transfers Head Toward Binance

The raRVLN1 wallet later distributed the XRP, mainly through 1 million-token transactions, to the rBNCyN address, which XRPScan links to Binance. Ripple-associated wallets transferred a combined 23 million XRP to the rBNCyN address during the week, after which the funds moved to Binance.

The transfers could represent routine liquidity management, including activity related to on-demand liquidity or market making. However, the blockchain data does not independently confirm the exact purpose of each transaction.

Meanwhile, activity on the XRP Ledger has picked up. The network averaged about 35,700 daily active addresses in August, compared with roughly 26,400 in July. New address creation stayed almost unchanged at around 2,260 per day, suggesting that existing users are driving the increase in activity rather than a large wave of new participants.

XRP continues to trade within a descending structure, with $1.022 serving as the first major resistance. A sustained break above that level could open the path toward $1.05-$1.07, while a decisive loss of $1 could expose XRP to further downside.

Derivatives positioning remains notably bullish. The long/short ratio was 3.095, while the funding rate stood at 0.0087. The heavy concentration of long positions could, however, create additional liquidation risk if XRP fails to defend its support.

XRP’s $1 Level Takes Center Stage

The $1.00-$1.015 region remains an important support band. Holding this area could keep XRP in consolidation, while a breakdown could accelerate the decline.

On the upside, reclaiming $1.022 would offer the first meaningful sign of recovery and could shift focus toward the $1.05-$1.07 area.

With derivatives open interest close to $986.48 million and long exposure elevated, XRP’s price reaction around the $1 mark could become a key driver of its next move.

For now, the combination of increased on-chain activity, large Ripple-linked transfers and crowded long positioning leaves XRP at a critical technical point, with the $1 support level likely to determine whether the token stabilizes or enters a deeper correction.