The prominent blockchain thru whale alert tracking large cryptocurrency transactions has identified tens of millions of large XRP-equivalent XRP transfers. The transfer was made by Upbit, Korea’s largest cryptocurrency trading platform.
However, additional details revealed by another on-chain tracker shed light on the nature of this transaction.
Meanwhile, the coin price has slipped over the past 24 hours, but has not been able to exceed $3.08.
23,000,000 XRP on the move
The aforementioned data source published a tweet, moving 23,000,000 XRP to an anonymously tagged wallet from Upbit, Korea’s largest crypto exchange. The relocation took place about four hours ago.
Fiat, which corresponds to this total of crypto, accounts for $68,753,451. The Crypto community quickly began to share their opinions. I suspect that large whales will buy large XRPs with DIP, mainly because the price has dropped to $3.
🚨🚨🚨🚨23,000,000 #xrp (68,753,451 USD) Transfer from #upbit to unknown walthttps://t.co/k7qeosxdrb
– Whale Alert (@whale_alert) August 27, 2025
This is what actually happened with Upbit
Details revealed by XRPSCAN show that while Upbit Exchange actually created the first transaction, the anonymous wallet that it received immediately transferred the 23,000,000 it received to the three crypto wallets.
These wallets also belong to Upbit, essentially making this transaction an internally diversified XRP transfer.
