Recently, there has been some speculation about a massive whalebuying $237 million worth of XRP tokens after Whale Alert reported such a transfer 16 hours ago. However, this does not appear to be a fresh purchase.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 236,982,972 #XRP (567,278,563 USD) transferred from #Kraken to unknown wallethttps://t.co/p6ZdeUCnGj
— Whale Alert (@whale_alert) May 21, 2025
A post went semi-viral on the X social media platform,arguing that there were fundamental issues with the XRP market, considering that the price of the token did not budge even after such a substantial transfer.
"When a whale buys more than a quarter of a billion XRP a couple of hours ago, without so much as a flicker in the unit price of XRP, surely even the most trusting will suspect that this whole XRP market has a few fundamental issues," an X user named DigitalG commented on Tuesday.
Some community members haveopined that the "manipulation" of XRP is "ridiculous."
Ripple CTO David Schwartz weighed in on the matter, claiming that the transaction in question is "almost certainly" a withdrawal from the exchange. Hence, it does not mean that the purchase was recent.
XRP is currently trading at $2.40, according to CoinGeckodata. The token is down 3% over the past 24 hours.
Several similar XRP transfers were picked up by Whale Alert earlier this month, but they had little impact on the token's price action since these are typically not market-moving buy orders.
