Dark Pools in the XRP Ecosystem? Analyst Claims Silent Accumulation by Institutions

A prominent voice in the XRP community, known as "All Things XRP," has reignited discussions around the presence of dark pools in the XRP market, challenging claims that such covert trading mechanisms don’t exist for the digital asset.

For those unfamiliar, dark pools are private trading platforms typically used by institutional investors to discreetly buy or sell large amounts of assets without triggering price swings. These off-exchange venues are designed to minimize market disruption and avoid slippage.

In a recent post, the analyst argued that XRP is quietly being accumulated in these hidden markets. He suggested that, despite skepticism from some corners of the community, the evidence points toward institutional players leveraging dark pool-style strategies to build their XRP positions without drawing attention.

Institutional Trading and Platforms Involved

According to All Things XRP, several major platforms, including Kraken and sFOX, are believed to offer dark pool-like trading features, possibly involving XRP. While unconfirmed, even Coinbase is rumored to provide such services. These tools were originally developed in traditional finance to prevent large trades from affecting public markets, making them a likely choice for whales interested in XRP.

XRP’s Flat Price Despite Big News

XRP’s price performance has remained puzzling in 2025. Despite bullish developments, like Brazil launching its first XRP ETF and Ripple’s $1.25 billion acquisition of Hidden Road, XRP has hovered around the $2 mark, showing minimal volatility.

Proponents of the dark pool theory believe this price stagnation isn't random. They argue that institutional buy pressure is being absorbed in private venues, which would explain the lack of dramatic price reactions to positive news.

“95% Confidence”: Analyst Cites Strong Indicators

All Things XRP pointed to several factors supporting his theory. These include XRP’s trading activity on platforms known for institutional access, patterns of accumulation without corresponding spikes in retail trading, and academic studies that suggest dark pools can suppress price discovery, an effect consistent with XRP’s behavior.

He even stated that his confidence in the existence of dark pool activity for XRP is at 95%, though he acknowledged that direct confirmation is still unavailable.

Ripple’s Silence and Community Concerns

Adding fuel to the fire is Ripple’s lack of comment on the matter. The company has neither confirmed nor denied the possibility of dark pool involvement in XRP trading. Given the decentralized nature of crypto, it's plausible that such trades could occur beyond Ripple’s oversight.

Still, the silence has prompted some XRP supporters to seek clarity. A Change.org petition, now signed by over 300 individuals, demands more transparency from Ripple regarding institutional trading activity.

Why Retail Investors Should Care

If true, the hidden accumulation of XRP by institutions could have significant implications. Retail investors might be underestimating real demand, leading to misinterpretations of market strength.

Analysts suggest that once institutional orders move from private venues to public order books, XRP could experience a sharp price surge. For now, the dark pool theory remains speculative, but it’s a narrative gaining traction among those closely watching XRP's every move.