A large XRP transaction worth over $500 million has caught the eye of the crypto community, but not for the reason you’d expect. While Bitcoin soared to a new all-time high above $111,000, XRP price didn’t budge. It’s been holding steady around $2.40, down just 0.6% this week, which contrasts the two even more noticeable.
The story was first shared by The Crypto Basic on X (formerly Twitter). They reported that a whale moved 236.98 million XRP, about $567 million, out of Kraken in a single transaction. With a move that big, you’d expect some action on the charts, but XRP’s price stayed flat, sparking plenty of questions in the community.
$500M+ #XRP Buy Fails to Move Price: Here’s What Happened. 🧵 pic.twitter.com/L7iC6Ph9rk
— TheCryptoBasic (@thecryptobasic) May 22, 2025
The large-scale movement of XRP prompted commentary from notable community figures. One such account, “Stellar Expert,” pointed out that such a massive withdrawal should have created some level of buying pressure. However, he noted the market reaction was absent, with XRP charts showing no price wicks or volume spikes.
This led to questions about whether market behavior was normal. Stellar Expert went as far as to ask whether the XRP market was functioning naturally or exhibiting simulated behavior. The lack of reaction, he suggested, would be unexpected even among committed XRP supporters.
What you'll learn 👉
Clarifying the Nature of the Transaction
While the transaction may appear on the surface to be a purchase, blockchain records indicate otherwise. According to data from the XRP Ledger, the event is categorized as a payment. This means it likely represents a movement from an exchange wallet to a private wallet, rather than a direct buy through the order book.
These types of withdrawals are generally viewed as bullish by traders, as they may suggest long-term holding intentions. However, they do not typically influence market prices because they do not reflect new buy orders or demand on public exchanges.
Read Also: ONDO Chart Turns Mega Bullish as Bitcoin Hits New ATH: Is the Rally Just Starting?
XRP Selling Pressure Offsets Positive Signals
Ripple CTO David Schwartz addressed the situation, suggesting that the whale may have acquired the tokens before moving them out of Kraken. If that were the case, it could indicate that the market had already priced in the demand.
Dom, an order book analyst, added further context by pointing out ongoing sell-offs. Over the past seven days, around 240 million XRP has been sold, primarily on platforms such as Coinbase and Upbit. This steady outflow may be contributing to the asset’s muted price reaction, offsetting any bullish effects from large withdrawals.
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