Key Takeaways:
Ripple moved 60 million XRP in a single transaction on May 28, as the token slid to $1.28 amid a broader crypto selloff.
The transfer was flagged by blockchain tracking service Whale Alert, which monitors large cryptocurrency movements across major networks.
The 60 million XRP, worth approximately $76.8 million at current prices, comes as XRP trades 65% below its all-time high of $3.65 reached in July 2025. The broader crypto market dropped after the U.S. launched fresh strikes on Iran, with Bitcoin and Ethereum also posting losses.
Ripple controls roughly 41.6 billion XRP tokens and releases 1 billion from escrow monthly. Large transfers during downturns historically amplify retail concern about potential selling pressure, though the company has previously described such moves as routine treasury management.
The transfer coincides with a period of heightened regulatory scrutiny for Ripple. Senator Elizabeth Warren sent a letter to the Office of the Comptroller of the Currency on May 18, arguing that the national trust charters granted to Ripple and eight other crypto firms were illegal under the National Bank Act. The OCC has until June 1 to respond.
XRP has been caught between two opposing forces this year. On one side, regulatory progress — including the CLARITY Act advancing past the Senate Banking Committee on May 14 and the SEC lawsuit dismissal in August 2025 — has cleared major legal hurdles. On the other, macro shocks such as the Iran strikes and persistent token supply overhang from Ripple's escrow releases have kept the price below $1.50 for most of 2026.
The 60 million XRP transfer alone represents roughly 0.1% of XRP's circulating supply of about 61 billion tokens. While not large enough to move the market on its own, the timing — during a sharp downturn — makes it a data point that traders will watch alongside the June 1 OCC deadline and the CLARITY Act's path to a full Senate vote.
This article is for informational purposes only and does not constitute investment advice.
