A sudden, hefty $22 million transfer of XRP has raised eyebrows across the crypto community.
A sudden, hefty $22 million transfer of XRP has raised eyebrows across the crypto community.
On May 30, 2025, an XRP whale moved 10 million tokens, valued at approximately $22 million at the time, to an unknown wallet, according to on-chain data tracker Whale Alert.
The transaction’s size and anonymity have sparked speculation, particularly amid growing volatility in the broader crypto market.
The transfer comes during a period of heightened activity for XRP. Over the past 24 hours, over $1.95 billion worth of XRP was traded, representing an 8% increase in volume, according to CoinMarketCap.
However, despite the spike in trading activity, XRP’s price action remains under pressure, falling to lows of $2.08 during early trading before recovering slightly to $2.17 by day’s – a 1% increase.
Relative Strength Index (RSI) on 4 Hour Chart: XRP’s RSI on the 4-hour chart stands at 35, indicating that the cryptocurrency is currently in oversold territory.
This suggests that there may be potential for a short-term price rebound from current levels.
50-Day and 200-Day SMAs: Key Resistance Levels:
Market data from TradingView shows that XRP has broken below its 50-day and 200-day simple moving averages at $2.25 and $2.30, respectively. This breach indicates strengthening bearish momentum.
IntoTheBlock data further supports this, showing that XRP has lost 75% of its on-chain volume, suggesting fewer transactions are taking place on the network than previous highs.
Major Corporate Developments Involving XRP
The interesting aspect of this huge transaction lies in the recent plans of two companies to integrate XRP into their treasury reserves.
Renewable energy firm VivoPower (ASX:VNX) is aiming to raise up to A$175 million (about $121 million) to establish an XRP-focused treasury reserve. This initiative marks a significant milestone as it will be the first time a publicly traded company in Australia will be including a cryptocurrency in its treasury strategy.
Moreover, Webus International (06600.HK), a China-based company, is planning to raise up to $300 million through convertible bonds to create an XRP strategic reserve.
These developments highlight the increasing interest from institutions in cryptocurrencies despite the market turbulence.
News data source: kdj.com
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