Ripple shifts 500M XRP as price approaches key $2.30 level
A decisive move above $2.30 could pave the way for a rally toward $2.50
Ripple Labs has transferred 500 million XRP, worth approximately $1.1 billion, prompting initial concerns over a potential market dump.
The transaction, detected on May 2 by blockchain tracker Whale Alert, has since been clarified as part of Ripple’s routine monthly escrow management.
Key takeaways
- Ripple moved 500 million XRP worth $1.1 billion.
- XRP price consolidates below the $2.30 resistance level.
- Technical momentum remains weak despite price support.
- Regulatory uncertainty continues with ETF delay.
Ripple remains aggressive in expansion strategy
According to Whale Alert, 500,000,000 XRP locked in escrow. The movement was not directed to external wallets, but instead involved a shift to an internal Ripple wallet, followed by a quick re-locking of the funds.
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An additional 200 million XRP, previously held in an operational wallet, was also re-escrowed across two transactions. Ripple’s standard structure allows up to 1 billion XRP to be released each month, with unused tokens often returned to escrow to reduce supply shocks and manage volatility.
XRP holds ground, but market momentum wavers
At press time, XRP is trading around $2.21, slightly below the key resistance level of $2.30. Technical indicators suggest a short-term bullish setup: the 20-day EMA sits at $2.17 and the 50-day EMA at $2.20, both offering near-term support.
XRP price dynamics (April - May 2025). Source: TradingView
However, broader momentum remains limited. The average directional index (ADX) is at a low 12.7, indicating a weak trend, while the relative strength index (RSI) hovers in neutral territory at 53. Volume also remains flat, implying that traders are cautious and waiting for a clearer breakout or breakdown signal.
A decisive move above $2.30 could pave the way for a rally toward $2.50, but failure to hold support at $2.16 might trigger a decline to $2.05 or even $2.00.
Regulatory overhang and strategic expansion
Outside of price action, Ripple’s long-term positioning continues to evolve. The SEC recently delayed a decision on a proposed spot XRP ETF by Franklin Templeton, extending uncertainty into mid-June. Meanwhile, Ripple has maintained an ambitious growth strategy, including the launch of the RLUSD stablecoin and a reported but unsuccessful $5 billion bid for Circle, the issuer of USDC.
While the recent XRP movement proved benign, the market’s eyes remain on $2.30, the next potential turning point for bullish momentum.
We'll remind you that we wrote earlier that XRP price struggles near $2.35 as short-term structure turns fragile.
