Mysterious XRP Whale Who Keeps Withdrawing Millions From Binance Revealed

Prominent cryptocurrency tracker Whale Alert has detected that a mysterious whale continues to transfer millions of XRP coins from the world’s largest cryptocurrency exchange in terms of trading volume – Binance.

Over the past 24 hours, this whale has made four massive transactions, withdrawing 77.7 million XRP.

In the meantime, the XRP price is retracing from a 20% surge demonstrated at the start of the week.

77.7 million XRP on move, whale behind this revealed

In a new development, two anonymous wallets have made four transactions, removing almost 78 million XRP from the Binance exchange. These 77.7 million XRP are the equivalent of $55.6 million in monetary terms. Such transactions have been going on for several consecutive weeks already, mystifying the cryptocurrency community.

Data revealed by XRP-focused explorer Bithomp shows that behind these “anonymous” transfers were wallets linked to Binance itself. Therefore, they are likely to be internal transactions performed by Binance as it redistributed its XRP holdings among new wallets.

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Whale Alert also spotted a 19,749,927 XRP lump transferred to major cryptocurrency exchange Bitstamp with offices in the U.S. and Europe. This XRP chunk is evaluated at $14,447,036.

The above-mentioned Bithomp platform revealed that the sender wallet is related to San Francisco-based cryptocurrency decacorn Ripple Labs. Bitstamp, where the funds were transferred, is one of the exchanges that collaborates with Ripple on its blockchain payments project running on Ripple Net, leveraging XRP for fast and low-cost transnational payments.