Vet, an XRP dUNL validator, points attention to over $500 million XRP shift by an account believed to be related to Ripple.
In a tweet, Vet highlighted that over $500 million worth of XRP was recently moved to a fresh account by a Ripple labeled account, sharing the details of the fresh account, which was activated Oct. 17, as provided by XRPL explorer XRPScan.
Vet noted that the said XRP was not escrowed and the account has no multisig, given the account value, or any other account settings.
Blockchain data tracker Whale Alert gives a breakdown of the $500 million XRP shift by Ripple, which was undertaken in three transactions, reported within the last 24 hours.
The transactions are as follows: 72,999,998 XRP (167,391,366 USD), 74,000,000 XRP (169,718,290 USD), 73,000,000 XRP (167,509,632 USD) were each transferred from Ripple to an unknown wallet.
In total, 219,999,998 XRP was moved, worth $504,619,288 at the time of the transfers.
The move comes at a significant time, with reports indicating Ripple accumulating $1 billion XRP for treasury purposes and also a recent $1 billion acquisition of GTreasury.
Ripple $1 billion XRP accumulation underway
According to Bloomberg, Ripple is said to be leading an effort to raise at least $1 billion to accumulate XRP. The money will be raised through a special purpose acquisition company, known as a SPAC, and will be housed inside a new digital-asset treasury, or DAT, Bloomberg cited people familiar with the matter, adding that Ripple will contribute some of its own XRP as well.
Ripple also agreed to buy treasury management software provider GTreasury for $1 billion, according to a Thursday announcement.
The deal marks significant expansion for Ripple, immediately opening up the multi-trillion dollar corporate treasury market and access to many of the largest corporate customers. It marks Ripple’s third major acquisition in 2025 alone, following the acquisition of prime broker Hidden Road and stablecoin platform Rail.
