It’s safe to say the XRP price is stuck right now, especially when you look at the last 20 days action. It’s trading in the $2.00 – 2.30 range with no clear sign yet where it could go from here.
However, analyst Jake Claver posted a very interesting thread on X in which he explained what’s going on with XRP right now.
What you'll learn 👉
Dark Pools: The Hidden Force Behind XRP’s Sideways Movement
According to Claver, XRP’s price appears stuck despite growing institutional interest because of something most retail investors don’t see: dark pool buying. These private trading venues allow large players to acquire substantial positions without moving the public price.
Dark pools are essentially private exchanges where major institutions can execute large orders, think $500 million worth of XRP, without revealing their activity to the public market. This prevents price spikes that would trigger widespread FOMO buying among retail investors. The trades eventually appear on the record, but only after they’re complete, when the price impact has been minimized.
This explains why XRP might seem boring on the charts while significant accumulation happens behind the scenes. Institutions like hedge funds, family offices, and possibly even nation-states prefer these private venues for their privacy, efficiency, and ability to avoid creating a visible trail that would alert smaller investors.
Major cryptocurrency exchanges including Coinbase and Kraken have developed dark pool services specifically for their institutional clients. There are even emerging decentralized dark pool solutions taking shape in the crypto space.
Ever wonder why #XRP price feels stuck even with all the big news and adoption stories flying around? Dark pools are an invisible force playing a role behind it, holding prices stable, but one catalyst could trigger one of the biggest moves ever.
— Jake Claver, QFOP (@beyond_broke) April 28, 2025
1/23🧵 pic.twitter.com/I2NnjxmIwf
The Pressure Cooker Effect
The result of this hidden accumulation creates what Claver describes as a “pressure cooker” effect in the XRP market. While retail traders see flat price action and low volume; often leading them to sell out of boredom or frustration—institutions are quietly draining the available supply.
This psychological warfare works in favor of large buyers. The longer the price stays flat, the more retail investors lose patience and sell their holdings, making accumulation even easier for institutional players.
The real concern for those not aware of this dynamic is what happens next. As the available supply on public exchanges continues to shrink, the stage gets set for dramatic price movement. When demand eventually spikes, perhaps due to regulatory clarity or major partnership announcements, there simply won’t be enough XRP available to satisfy buyers.
In this scenario, prices won’t climb gradually. Instead, we could see gap-up movements where the XRP price jumps 2x, 3x, or even 5x in rapid succession. The price action might appear as if someone “flipped a switch,” catching many by surprise.
XRP’s situation appears particularly notable because of its unique position regarding regulatory clarity (with progress in the Ripple vs SEC case) and its increasing utility in real-world financial systems. If these factors align with the supply crunch created by dark pool buying, the timing could create the perfect catalyst for significant price movement.
Read also: The Real Reasons BlackRock Is Avoiding an XRP ETF: Expert Insights
Important Considerations
It’s worth noting that Claver’s analysis, even though compelling, doesn’t provide any hard evidence of dark pool activity specifically for XRP. The theory is largely based on observed market behavior patterns rather than conclusive on-chain or off-chain data that would definitively prove institutional accumulation through private venues.
Additionally, while the setup described makes logical sense, timing remains a major unknown factor. No one can predict exactly when such supply pressure might release, making it difficult for investors to position themselves with any certainty about when a potential price movement might occur.
The combination of depleted public supply (caused by dark pool accumulation) and a trigger event like final regulatory clarity or major adoption announcements could create the conditions for an explosive price discovery phase.
All in all, Claver’s analysis means patience might be rewarded. Even though it’s impossible to predict exactly when such a move might occur, understanding the potential mechanics behind the current market structure provides valuable context for XRP’s price behavior.
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