Ripple Transfers 60 Million XRP as Price Drops to Multi-Month Low

Ripple has triggered fresh speculation across the cryptocurrency market after transferring 60 million XRP in a single transaction. The massive XRP transfer, valued at more than $79 million, was first detected by blockchain tracking service Whale Alert and quickly sparked debate among traders and investors.

The transfer was reportedly sent from a Ripple-linked wallet to an unknown address, leading many in the crypto community to question the purpose behind the move. Some market observers believe the transaction may be connected to liquidity provisioning or potential Binance-related activity, while others see it as a bullish sign for future XRP market movements. However, Ripple has not released any official statement regarding the transfer.

The discussion intensified after XRP price experienced a sharp decline shortly after the transaction was spotted. The cryptocurrency dropped below the important $1.30 support level, increasing bearish sentiment among traders. XRP later touched $1.26, marking its lowest trading price since November 2024.

At the time of writing, XRP is trading around $1.28, reflecting a daily decline of more than 3%. The recent downturn has weakened hopes of a quick recovery toward the highly anticipated $2 target that many XRP holders expected earlier this month.

Crypto analysts remain divided on whether Ripple’s large XRP transfer directly influenced the sudden market sell-off. Still, the timing of the transaction and the subsequent price drop have added uncertainty to the XRP market outlook.

Despite the short-term bearish pressure, XRP continues to remain one of the most closely watched digital assets in the crypto industry. Investors are now monitoring whether the token can regain momentum and recover above key resistance levels in the coming weeks.