Advertisement
AD

Main navigation

Mysterious XRP Withdrawals From Binance into Unknown Continue – Millions of XRP Go Away

Advertisement
Mon, 10/06/2024 - 9:43
Mysterious XRP Withdrawals From Binance into Unknown Continue – Millions of XRP Go Away
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

According to data shared with the crypto community by the prominent blockchain tracking service Whale Alert, Binance has seen yet another massive XRP chunk leave its wallet for a blockchain address that belongs to an anonymous whale.

The XRP community started actively discussing this transfer in the comments, speculating as to the goal of this transaction and its destination. In the meantime, XRP has so far failed to recover after the enormous plunge it saw on Friday.

30.4 million XRP on move from Binance

Over an hour ago, the aforementioned data source spread the word about an astounding XRP transaction made from a Binance wallet to a blockchain address with an unregistered owner. The anonymous whale made a withdrawal of 30,406,274 XRP in total. This amount of crypto is valued at $15,073,991.

The community started a heated discussion in the comments, pondering as to the nature of this transaction – the identity of the whale who initiated it and the destination the XRP chunk was sent to.

Overall, XRP users remain bullish on the Ripple-affiliated cryptocurrency, and some even expect it to make a bullish breakout this week. One commentator suggested that the anonymous recipient of this transfer could be a bank.

This transaction indeed seems like a purchase that could be made by a financial institution or a private cryptocurrency investor.

In should be noted that these large XRP transfers from the world’s largest crypto exchange to unknown wallets have been going on for several months now, as Whale Alert has been reporting on them every week, several times a week. Still, data shared by the Bithomp XRP-focused data platform shows that this massive transaction was sent from Binance to a crypto wallet that also belongs to Binance, removing the mystery and turning this transfer into a funds redistribution made by the crypto trading platform between its wallets.

Related

XRP price performance

Since Friday, XRP has lost slightly more than 6% of its price. On Friday, XRP faced a 7% price drop, printing three consecutive red candles on an hourly chart, and one of those candles was a tremendous one. On that day, XRP crashed from the $0.526690 level.

Since then, XRP has been attempting to recover, but it has so far been trading sideways, moving in the $0.49617 range.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD