Nearly Half a Billion XRP Transferred by Binance and Whales as XRP Skyrockets to the Green

According to the Whale Alert cryptocurrency transaction tracker, approximately 429 million XRP had been transferred by Binance in the previous 15 hours. The largest example included a staggering 210 million coins.

Six transactions containing a total of approximately 430 million XRP currencies have been identified by the mentioned cryptocurrency monitoring company. The two largest transactions included 210 million and 94.3 million XRP. 

Between two unknown recipients, a total of 209,000,000 XRP was transferred. However, according to data made public by the Bithomp XRP-focused analytics portal, this incredible sum was also wired by Binance. It was an internal move by the cryptocurrency trading titan.

The remainder of the aforementioned XRP value was transferred from Bittrex-affiliated wallets to Bitstamp. The value of 29,000,000 XRP was also transferred between Bitso exchange wallets, a crypto unicorn located in Mexico and Ripple ODL partner.

XRP, the sixth-largest cryptocurrency by market capitalization, increased by over 5% during the previous 24 hours, as shown by the appearance of multiple large green candles on an hourly chart. After then, the price decreased dramatically, eliminating the expansion. On the Bitstamp market, it has only begun to rebound, gaining by just less than 1 percent.

Since January 9, the XRP price has increased by leaps and bounds. On January 12, there was a significant increase of almost 12 percent, followed by a decline of 4 percent.

Last week, as reported by U.Today, the on-chain data aggregator Santiment saw a significant rise in wallet activity. As stated before, this was the reason for the price increase of roughly 13%. In addition, the analytics firm saw an increase in XRP’s social influence.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.