Ripple has sparked widespread discussion across the crypto community after completing a large single transaction involving the transfer of 60,000,000 XRP in one move.
The transfer, detected by blockchain tracking platform Whale Alert, has drawn heightened concern as XRP subsequently posted a sharp price decline, retesting its lowest levels in several months.
Ripple Sparks Debate
According to blockchain data, Ripple moved a total of 60 million XRP — valued at over $79 million — to an unknown wallet, triggering debate about the motivation behind the move.
The mysterious transfer grew more worrying to traders after XRP followed with a sudden price dip, falling below its key support level around $1.30.
While Ripple has not disclosed the reason for the transaction, some market participants speculate the move is connected to plans involving Binance, while others argue the transfer is actually bullish in nature.
Nonetheless, the sharp decline in XRP's price has left traders questioning whether Ripple's transaction played a role in the sudden negative price action.
XRP Retests 2024 Lows
While the XRP community had been focused on a $2 recovery target following a price rally seen earlier this month, the asset has significantly reduced its chances of reaching that level.
After remaining in negative territory for much of the past week, XRP has fallen further, losing its key support at $1.30 for the first time in nearly two months.
Earlier in the day, XRP's price retested $1.26, marking the lowest level recorded since November 2024.
At the time of writing, the asset is trading at $1.28, representing a decline of 3.24% over the previous 24 hours.
Why it matters
Large wallet-to-wallet transfers by a major token issuer can signal a range of actions — including exchange deposits, OTC deals, or internal treasury moves — each carrying different implications for circulating supply, which is why the destination wallet's identity matters to traders.
XRP breaking below the $1.30 support level for the first time in roughly two months shifts the technical reference point traders use to assess near-term price direction, making the $1.26 retest a closely watched data point.
