Where’s all the $XRP going? 👀🧩

I compared macro wallet movements from Sep 21 → Dec 14, 2025… and the flows are telling a very interesting story.

Major wallet changes in this period 👇

1. Ripple: -1.909B XRP

2. Unknown wallets: +1.642B XRP

3. Upbit: +383M XRP

4. Binance: -342M XRP

5. Bithumb: +167M XRP

6. Uphold: -47M XRP

7. Larsen: N/A

Now let’s connect the dots 🧠

🐼 Ripple isn’t just “selling” — it looks like structured distribution
• Part of the supply is clearly going to exchanges (liquidity)
• A much larger portion is flowing into “Unknown” wallets (likely custody / positioning)

🐼 Escrow math matters
Roughly 300M XRP released × 3 times = ~900M XRP
Yet total outflow from Ripple wallets is ~1.9B XRP
That leaves ~1B XRP moved outside of visible escrow releases during this window.

🐼 ETF custody theory 👀
Around 669M XRP is reportedly custodied for spot ETFs
Most logical storage? Unknown wallets.
And during the same period, Unknown wallets gained +1.642B XRP.

This doesn’t look random.
It looks like quiet positioning while retail argues noise.

I’m personally holding XRP and watching these flows very closely 🐼
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