An XRP withdrawal of 40 million stuns the leading South Korean exchange.
The price narrative, however, presents a different picture.
XRP withdrawal of 40 Million :XRP has dropped 35% since January 2025, which is one of the biggest drops among the main cryptocurrencies. XRP has not performed well, even if it is part of the U.S. strategic reserve along with Bitcoin, Ethereum, Cardano, and Solana.
Bettors Are Getting More Pessimistic
The mood of the market has drastically changed. The odds of XRP reaching a new all-time high before July have fallen from around 90%—after Donald Trump’s inauguration, to just 4%, according to a wager on Polymarket. For the price rise of XRP in the first half of 2025, this represents the lowest level of confidence ever noted.
The blockchain surveillance firm Whale Alert discovered a significant transaction involving 40 million XRP, worth approximately $83.5 million, which further exacerbated the instability. The money was transferred to an anonymous wallet after being taken out of Bithumb, the second-biggest cryptocurrency exchange in South Korea. This action calls into question the motives behind such significant transfers as well as possible market effects.
Peter Brandt’s Sobering Price Forecast
Peter Brandt, a renowned trader and market expert, has expressed a pessimistic view about XRP. Brandt suggested that XRP had no intrinsic value by comparing its current speculative value to that of Beanie Babies and Pet Rocks.
He posted on Twitter:
Your preferred Beanie Baby/Pet Rock cryptocurrency exhibits a traditional complex H&S top. If $3.0 is surpassed, this might become bullish; if not, anticipate a drop to $1.07. Talk to Edwards and Magee about this if you have a problem. $XRP
Unless XRP can recover the $3 level, which many traders consider a significant milestone, Brandt’s technical analysis predicts a price decline.
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