#Write2Earn Ripple (XRP) has seen significant transaction activity, with around 54.8 million XRP, valued at nearly $30 million, transferred to exchanges in the past 24 hours.

Whale Alert reported two major transactions involving transfers to Bitso and Bitstamp, raising speculation about potential sell-off pressure.

The transfers coincide with XRP testing a key support level at $0.53 amid a downward price trajectory since reaching a peak of $0.575 on February 20.