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Tens of Millions of USD in XRP Moved from Binance – What's Happening?

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Tue, 21/02/2023 - 16:20
Tens of Millions of USD in XRP Moved from Binance – What's Happening?
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XRP whales remain active these past few weeks. Over the last 24 hours, one of them has withdrawn over 50 million XRP from the Binance crypto trading giant. This could indicate the growing interest of whales in this cryptocurrency as, this year, the community expects the Ripple-SEC case to be over.

Millions of XRP withdrawn from Binance

The total amount moved from the crypto trading venue with the largest volume constitutes 50,304,136 XRP, which is equated to $19,761,873 USD, according to popular crypto tracking platform Whale Alert.

The tracking service shared that the funds were sent from a Binance-linked wallet to an anonymous crypto address not affiliated with any crypto exchange. This could be withdrawal to a cold storage wallet after a recent purchase.

In the comments thread, however, a Twitter user jokingly stated that these are David Schwartz and Garlinghouse continuing to manipulate the price – Ripple's CTO and CEO.

Additionally, 30,200,000 XRP were transferred from Bitso exchange to an unknown wallet, and 34,000,000 XRP tokens got moved from one anonymous address to another.

These were worth approximately $12 million and $13.5 million in fiat.

Related

Ripple giant shifts 510 million XRP

A day earlier, U.Today reported that two massive XRP transfers were spotted by Whale Alert. They carried 244,500,000 XRP and 264,500,000 XRP – approximately 510 million XRP tokens in all.

Both transactions were made by Ripple Labs behemoth, according to XRP-focused data website Bithomp. However, the transactions were conducted between internal wallets that belong to the crypto giant.

Earlier this month, the aforementioned source drew attention to several other XRP transactions, carrying similar amounts of crypto as Ripple, moving large chunks of XRP with the final destination likely being to sell them on an exchange.

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