News View Non-AMP

Ripple’s XRP Price Plummets 5% Amid Whale Transactions and ODL Movements

Published by
Qadir AK

In a surprising development, Ripple Labs, a company usually associated with positive developments in the crypto world, has had a tough week. This downturn comes as significant amounts of XRP were sold, coinciding with a noticeable drop in the cryptocurrency’s price.

Background Information

XRP, the digital asset from Ripple    , has been on an upward trajectory for the past three months, even amid ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC). However, the market recently faced a sudden price correction, with XRP’s value taking a hit.

Recent Developments

Whale Alert, a service that tracks large cryptocurrency transactions, recently identified two major XRP transfers from an anonymous wallet to the crypto exchanges Bitstamp and Bitso. In total, these transactions involved the movement of over 52 million XRP. Analysis from Bithomp, an XRP-focused blockchain explorer, suggests that these transactions might be linked to Ripple Labs rather than being a straightforward sale.

Also read: YFI Token in Freefall: 37% Drop and $4.7 Million Liquidations in 24 Hours

Impact on Market

Following these large transfers, the price of XRP fell sharply, from $0.0651 to $0.616—a drop of over 5%. This decline followed a previous decrease of 12%, which was attributed to false rumours regarding a BlackRock XRP ETF.

Explainer: On-Demand Liquidity (ODL)

Ripple Payments, formerly known as On-Demand Liquidity (ODL), is a key part of Ripple’s ecosystem. Unlike traditional banking systems that rely on prepaid accounts for money transfers, Ripple Payments, powered by XRP, offers a more direct and efficient transactional process.

These recent developments put Ripple Labs in the spotlight, with the cryptocurrency community closely monitoring the situation. As the market responds to these significant transfers, the future movements of Ripple and XRP remain a point of keen interest for investors and analysts.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Bitcoin Records 2nd Consecutive Week of Cash Inflows: Is a Breakout Rally Coming?

Bitcoin (BTC) demand by institutional investors has remained high amid rising fears of short-term crypto…

June 24, 2025

Solana Rebounds, But Still Remains on Thin Ice—Here’s the SOL Price Prediction for 2025!

Solana, the Ethereum killer, is showing signs of a strong comeback. After weeks of choppy…

June 24, 2025

Altseason vs Bitcoin 2025: Why Benjamin Cowen Is Betting on BTC

The wider cryptocurrency market, led by Bitcoin (BTC), has experienced rising short-term bearish sentiment amid…

June 24, 2025

Why Is the Crypto Market Going Up Today? BTC, ETH, XRP, and Pi Network Bounce Back Strong

After a nerve-wracking weekend packed with geopolitical tension and market dips, the crypto market is…

June 23, 2025

Ripple News: Can Billions of Dormant XRP Save the Token From Its $2 Breakdown?

It’s been a rocky weekend for XRP holders as the token’s price took a sharp…

June 23, 2025

Shiba Inu Price Prediction 2025, 2026 – 2030: Will SHIB Price Hit $0.00005?

Story Highlights The live price of SHIB memecoin is SHIB token price could reach a…

June 23, 2025