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100 Million XRP Moved by FTX Behemoth, Here's What It Means for Market

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Tue, 11/10/2022 - 15:01
100 Million XRP Moved by FTX Behemoth, Here's What It Means for Market
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As reported in a recent tweet by Whale Alert, a jaw-dropping sum of XRP – 100,000,000 – was shifted to a wallet that was marked as "unknown," slightly over 22 hours ago.

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This amount of XRP equates to $51,958,683, according to the XRP/USD exchange rate at the moment of the transfer.

Data provided by Bithomp XRP-focused tracker shows that the recipient wallet was a Binance crypto address; therefore, a whale shifted a 100-million XRP lump to another location from FTX.

At press time, Ripple-affiliated XRP token is changing hands at $0.4876, per data from CoinMarketCap.

Related
Charles Hoskinson Wants Nothing More to Do with XRP, Here's What Happened

Transfers of XRP that large emerged in September when the expectations of the XRP community about a potential Ripple win in court over the SEC became high. Prior to that, throughout the year, such massive transactions of this coin were rare. This might be indicative of investors' interest in seeing XRP rise again after a long period of time.

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