The XRP community is tense as large cryptocurrency movements to exchanges increase, raising concerns among investors about potential sell-offs.

Since Tuesday, Whale Alert, a company that tracks large crypto transactions, has reported several substantial transfers of XRP to exchanges, totaling more than $50 million.

On May 29, Whale Alert noted a transfer of 28,050,000 XRP worth $14.6 million from an unknown wallet to Bitstamp. Shortly after, another transfer of 23,130,000 XRP valued at $12 million went to Bitso, a crypto exchange based in Mexico.

These transactions follow a similar pattern observed on May 28, when 19,880,000 XRP ($10.4 million) was sent to Bitso, followed by 29,280,000 XRP ($15.4 million) to Bitstamp.

The continuous influx of XRP into exchanges without corresponding withdrawals has unsettled the XRP community, sparking speculations of a potential downturn. This uncertainty comes as XRP strives to stabilize amidst prolonged consolidation, with subdued volatility complicating its market trajectory.

Investors are closely monitoring developments such as regulatory clarity post the Ripple lawsuit settlement with the SEC. There is also anticipation surrounding the potential approval of an XRP ETF and the launch of Ripple’s stablecoin.

In parallel, Ripple CEO Brad Garlinghouse remains optimistic about crypto’s influence on the upcoming US elections. Recently, Ripple donated $25 million to the pro-crypto committee Fairshake to support crypto-friendly legislation and candidates, countering criticism from figures like Elizabeth Warren and Gary Gensler.

Echoing Garlinghouse’s sentiments, lobbying groups like the Blockchain Association and the Crypto Council for Innovation advocate for favorable crypto regulations. Recent successes include the passage of the FIT21 crypto bill by the US House of Representatives.

Amidst these developments, the XRP community navigates the implications of significant whale activity and regulatory changes, uncertain of XRP reaching a $1 price. Nonetheless, stakeholders are committed to steering XRP towards stability and growth in the face of evolving market dynamics.

As of the latest update, XRP trades at $0.5179, reflecting a 1.47% decrease over the past 24 hours.