Leading XRP-friendly payment and trading platform MoonPay has announced a simple promotional campaign centered on XRP.

The latest move continues MoonPay’s support for the fourth-largest cryptocurrency. In a recent post on X, the firm announced a giveaway to reward one X user with XRP. Specifically, MoonPay stated that it will award $250 worth of XRP to a single person who likes the announcement tweet.

At press time, the post had already accumulated more than 3,200 likes. However, MoonPay has not yet revealed when the campaign will end, and the post continues to draw additional attention.

Interestingly, MoonPay recently ran a similar campaign for Bitcoin and confirmed that it distributed a $250 BTC reward to a selected user yesterday. It also noted that users who missed the Bitcoin promotion could join the XRP giveaway, emphasizing that “XRP is next.”

However, the crypto platform noted that users from the United Kingdom are not eligible for the giveaway without providing any specific reasons.

MoonPay Highlights Bitcoin-to-XRP Conversion Demo

MoonPay has earned a reputation in the XRP community for its ongoing public support of the token. From celebrating XRP price spikes to engaging with vibrant community members, MoonPay has consistently demonstrated its bullish stance on XRP.

Last month, it also announced a $2,025 XRP giveaway to one lucky follower if XRP reaches a new all-time high this year. Yesterday, it tapped into the enthusiasm of the XRP community once again with a light-hearted post on X, asking, “Are we doing this right, XRP fam???”

The post featured a short video clip showing the conversion of $260 in Bitcoin to XRP via the MoonPay platform. The demonstration highlighted the platform’s seamless swap functionality while also signaling continued support for the XRP community.

MoonPay Stays Bullish on XRP Despite Criticism

In addition, MoonPay shared a screenshot displaying the option to purchase 589 XRP using Apple Pay. The post quickly drew reactions from community members, who pointed out the symbolic significance of “589” within the broader XRP community.

The number “589,” which has circulated within the community since 2018, originated from a commentator known as “Bearableguy123,” who once predicted XRP could reach a bold price target of $589. By using the symbolic figure, MoonPay prompted many users to revisit and reiterate the old prediction.

However, not everyone reacted positively to MoonPay’s XRP-focused posts. One user even humorously stated he plans to block MoonPay after watching the Bitcoin-to-XRP conversion video.

Blocked.

— Benny (@Benny_) December 9, 2025

Despite the criticism, MoonPay has clarified that such attacks are unnecessary, emphasizing that individuals and crypto entities should be free to express support for any asset.

A commentator from the NFA Research Group recently argued that the well-known “589” idea tied to XRP first appeared in Bitcoin’s early history. 

In a recent video, he suggested that several dates, numbers, and regulatory filings all highlight what he sees as a deliberate pattern that surfaced long before XRP holders turned 589 into a community symbol.

589 Linked to Bitcoin on CNBC

During the commentary, the pundit reacted to a CNBC segment featuring Ripple CEO Brad Garlinghouse. During the interview, CNBC displayed an image of Bitcoin placed on a U.S. dollar bill with a serial number that included “589.” 

The researcher insisted that this detail looked intentional rather than accidental but mentioned that no one should expect CNBC to confirm it. He argued that the moment was an almost impossible coincidence, crediting fellow community member XRP Drops for spotting it.

According to him, although the 589 meme belongs to the XRP community, the incident with CNBC placed the number under Bitcoin, not XRP. This detail pushed him to revisit his earlier claim that Bitcoin and XRP work as complementary assets. 

Bitcoin and XRP Working as Complementary Assets

He said Bitcoin’s proof-of-work system creates value through energy use, while the XRP Ledger’s energy-efficient consensus allows fast and clean transfer of that value. 

The pundit then called attention to an earlier video where he argued that the colors of the Bitcoin and Ripple logos resemble ionized liquid gold and silver, which, to him, shows their roles as store-of-value and payment assets. He said these details convinced him that one coordinated vision may have led to the development of both networks from the beginning.

Speaking further, the researcher highlighted details from Bitcoin’s early days. Notably, the first public forum post containing Bitcoin’s source code appeared on May 8, 2009, which he referenced as 589. 

According to him, this date may have marked the first layer of the 589 pattern. He suggested that a small team of cryptographers, possibly people who enjoyed riddles, could have created Bitcoin and also planted the 5-8-9 idea as a hidden signature.

The pundit followed this with another date connection. For context, Satoshi Nakamoto sent his final known email on April 23, 2011, saying he would move on to other things. Exactly 5 years, 8 months, and 9 days later, Brad Garlinghouse became Ripple’s CEO. 

Alleged Regulatory Connection 

Moreover, the pundit also linked the May 8, 2009 release of Bitcoin’s source code to another event. Specifically, the SEC issued Release No. 34-59895, a document he described as the regulatory foundation for future digital-asset products, including Bitcoin ETFs. 

Considering these pointers, the researcher claimed that the connections show that 5-8-9 appeared in Bitcoin and the wider crypto market long before the XRP community adopted it.

Meanwhile, responding to his commentary, an XRP investor also pointed out that market analytics resource Coinlore lists XRP’s earliest trading price in August 2013 as $0.00589, further adding to the ongoing speculations.

Origin of the 589 Symbolism

For the uninitiated, the 589 symbol began with Bearableguy123, an anonymous figure active around 2018 who released drawings and riddles that hinted at XRP reaching $589. 

The meme spread widely after a fake Simpsons image showing Bart predicting XRP at $589 circulated online. It surfaced again in 2024 when the community noticed that Brad Garlinghouse followed exactly 589 accounts on X. Meanwhile, Solana and MoonPay accounts on X also recently referenced the figure.

However, these ideas remain community speculations. No confirmed evidence shows that Bitcoin’s creators, Ripple executives, or regulators intentionally embedded the number into crypto history. The theory only thrives as a community-driven narrative without any verified basis.

XRP is disappearing from exchanges in large amounts, with a staggering 1 billion tokens withdrawn in the past three weeks.

Notably, Market commentator Mike elaborated on this Glassnode data in a recent tweet, calling it “insane.” He highlighted that the XRP balance across all exchanges has dropped drastically, as whales prefer self-custody for long-term holding.

XRP Availability on Exchanges Depletes

Specifically, the Glassnode data show that over 3.5 billion XRP tokens were on exchanges in early November. This number stood at 4 billion tokens in October, growing as the asset’s price struggled.

However, a sharp drop was seen in November, as exchange reserves depleted by 2 billion from over 3.5 billion to near 1.5 billion. Mike noted that whales took off 1 billion tokens in three weeks, reducing the number of XRP available for immediate selling. Notably, this coincides with the launch of the US XRP spot ETFs.

Meanwhile, game designer Chad Steingraber reacted to this development, noting that this was the first time the cryptocurrency’s exchange reserve balance had dropped well below the price structure. Notably, the one-year chart, which compares the exchange balance with price, shows that XRP’s price has largely trended above the reserve trendline.

However, recent withdrawals have ensured that for the first time this year, the exchange reserve has dropped below the price trend. This trend shows severe supply absorption, which usually precedes a price rally.

Withdrawals Spark Supply Shock Narrative

Remarkably, Mike views this as bullish for XRP. He painted a scenario in which the pent-up demand for the coin triggers a shortage across major suppliers.

Notably, most of the recent demand has come from ETFs, which became the fastest US products to cross $1 billion in assets under management after Ethereum and Bitcoin. Data from SoSoValue shows the funds have recorded a cumulative net inflow of $944 million from four asset managers.

Mike suggested that these ETF demands, institutional acquisitions, the asset’s use case, and XRP burns, among others, will dry up XRP’s supply. This would make them inaccessible to exchanges, OTC desks, and “dark pools.”

This view aligns with the growing community sentiment that an XRP supply shock is imminent. Analyst Pumpius highlighted six reasons why XRP would become scarce in a recent outlook, also mentioning most of these factors. EasyA co-founder Phil Kwok further shares the same sentiment, tapping DeFi to spark this scarcity.

Meanwhile, Mike suggested that this shock would have bullish impact on XRP’s price. He asked whether XRP would still retrace further, as some suggest, if a use case is sustaining its price.

MoonPay, a prominent crypto trading and payment platform, has elicited community reactions after posting a purchase of 589 XRP tokens.

The platform shared a picture showing where it processed a transaction involving a 589 XRP purchase. It showed the option to buy the tokens with Apple Pay, which was symbolic, as Apple and Google Pay recently enabled direct XRP purchases across 40 countries.

But There Is a Catch

However, what many saw as a regular tweet seemed to have a deeper meaning, especially for the XRP community. The tweet drew reactions about why exactly MoonPay chose the 589 XRP figure, with an attached emoji further fueling curiosity.

Reactions centered on the 589 XRP rather than the Apple Pay, with users calling it the “magic number.” Several other responses made claims of an XRP moonshot to $589 per coin, while some others welcomed MoonPay to the XRP Army.

Remarkably, a similar event occurred for Solana a few days ago. The official X handle of the Solana ecosystem posted a cryptic “589” message, attracting its highest-ever engagement on the platform.

The tweet received over 4.3 million views and strong engagement from the XRP community. Enthusiasts claimed this suggested a possible partnership between XRP and Solana, possibly involving the RLUSD stablecoin. Some others noted it was Solana trolling XRP or just a market stunt to attract the strongest crypto community on X.

The “589” Figure Is Symbolic

Remarkably, the reactions are understandable, as 589 has long been recognized within the XRP community. The figure has its roots in a 2018 reference by cartoonist and XRP proponent Bearableguy123. It represented bold, ambitious price predictions for XRP, with most discussion centered around XRP reaching $589 per coin.

Interestingly, Ripple CEO Brad Garlinghouse also seems to recognize this “589” figure. Specifically, his X account has had a following cap of 589 for years.

Notably, financial expert Linda P. Jones had also highlighted a new perspective. An analysis identified that the ISO 4217, which is the official list of recognized currencies globally, has the number 589 unassigned. The narrative speculates that there could be an alignment to fill that gap in the future with XRP or RLUSD, giving the ecosystem an unprecedented regulatory recognition for a digital asset.

Conclusively, the MoonPay 589 XRP post might be a ploy to attract the same level of community attention as Solana did.