Ripple recently moved 50 million XRP tokens, which were part of the 300 million XRP released from escrow for May. This is the second transaction in three days, with the company having moved a total of 100 million XRP out of the 300 million tokens.

Other whales also recently shuffled a total of 54 million XRP tokens in two transactions, both involving an inflow to the UK-based crypto exchange Bitstamp. These movements come at a time when analysts believe XRP may be at risk of dropping below $0.40, although there is also potential for the asset to break out to $0.55.