During Wednesday's episode of Watch What Happens Live with Andy Cohen, Richards, 52, explained why she and Frankel, 50 don't follow each other on Instagram.
"She unfollowed me," the Real Housewives of Beverly Hills star said. "And I was like, 'Why do I want to follow someone who doesn't follow me?' So, I just said, 'I don't need to keep up with her either, then.'"
She then teased that no, she won't be appearing on the next season of Frankel's HBO reality series, Big Shot with Bethenny, but clarified that the pair are still friends.
"We still talk and text. We text each other," she said of the Real Housewives of New York City alum. "I don't know, she just unfollowed a lot of people."
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The two Housewives stars have been friends for decades after first meeting when Frankel was working in Los Angeles
"When I first met Bethenny she was working at La Scala Boutique, a restaurant in Beverly Hills," Richards said during a 2016 episode of RHOBH. "She came up to my table and was like, 'Hi. I'm dating your ex-boyfriend.' "
Richards also wished Frankel a happy birthday on Instagram that year, referencing their long friendship.
"Happy birthday @bethennyfrankel friends for more than 2 decades …love you XXOO," she captioned a pic taken in 1992.
Both Richards and Frankel were part of the original cast of their respective Bravo shows, though Richards has remained on RHOBH since its start in 2010 and Frankel has moved on from RHONY. She left the show after it's third season in 2010, before returning five years later and then departing again in August 2019.
"I have decided to leave the Housewives franchise to explore my next chapter," she said in a statement to PEOPLE when she announced her second departure.
"It's time to move on and focus on my daughter, my philanthropy and my production partnership with Mark Burnett, producing and starring in shows which represent a shift in the conversation for women," continued Frankel, mom to 11-year-old daughter Bryn, whom she shares with ex Jason Hoppy.