Over 500 million tokens were transferred in a single day on May 30, 2025, marking an impressive increase in on-chain activity for XRP. The price action conveys a more sobering picture, even though this kind of spike in payment volume frequently portends increased demand or significant settlements.

The 200-day moving average, which has historically served as a long-term support floor, is tested on the daily chart for XRP/USDT after a clear breakdown below the 50-day moving average. The price showed obvious weakness following a brief breakout from a descending triangle earlier in May, closing the day at $2.14, down 1.5%. The asset is currently teetering just above important support after the rally attempt abruptly ended.

The Relative Strength Index (RSI), which is at 38.55 just above the oversold threshold, shows that sellers are still in control but that momentum is running out. Volume has decreased in comparison to April, indicating a lack of follow-through from retail or speculation. The gap between market sentiment and on-chain activity is what complicates matters. The 500 million XRP move on May 30 may have been caused by exchanges or internal reorganizations by major holders rather than by fresh demand.

The spike appears more like a transfer anomaly or institutional cold storage move than a bullish reversal trigger in the absence of a corresponding price upside. XRP is in danger territory from a technical standpoint. Previous demand could intervene if there is a clear break below the 200-day MA, opening the downside to $2.00 or even $1.90. To regain control, bulls must swiftly retake the 50-day MA (~$2.26). A rally is still possible, but the circumstances are not there right now.

If there is no price confirmation, on-chain spikes are usually just noise. XRP may bounce toward $2.50+ if it consolidates above the 200-day MA and we observe increasing volume along with RSI divergence. However, the general trend continues to be corrective until then. To put it briefly, not much changed but a lot of XRP moved. Right now the price is not particularly bullish, but it still controls the story.