Onchain trackers identified five separate transfers of 100 million XRP each, totaling 500 million XRP valued at approximately $649 million, leaving a wallet labeled Uphold (12) on Sept. 17. The transactions occurred within a 16-minute window.
Account data on the XRP Ledger shows that all five recipient addresses were activated earlier the same day by the same Uphold sender. Each fresh address was seeded with a small, stepped amount of XRP—ranging from 60 to 100 XRP—before the larger payments arrived. As of Sept. 18, none of the five receiving wallets had sent any outgoing payments, with the only additional activity being minor dust-spam bot transactions.
Market commentators noted that the large, round transfers drew attention across social media platforms. Ledger data alone cannot confirm whether the transactions represent an internal cold-storage reorganization or a large client withdrawal, and Uphold has not commented publicly on the movement.
This event follows another large XRP transfer on Sept. 14, when 145.6 million XRP left the Uphold (4) wallet to an address activated earlier in May. Following the Sept. 17 transactions, the Uphold (12) wallet balance decreased to approximately 962.9 million XRP. During the time of the transfers, XRP traded between $1.29 and $1.32.
