Millions of Dollars in XRP Mysteriously Moved From Binance

Blockchain tracker Whale Alert reported two significant XRP transfers, each worth around $13.5 million, from Binance to unknown wallets.

In total, 45.6 million XRP, valued at $27.1 million, were moved by two anonymous whales.

These large withdrawals suggest a resurgence in XRP buying activity by major investors.

🚨 22,814,856 #XRP (13,616,393 USD) transferred from #Binance to unknown wallethttps://t.co/OVkQVzqfCa

— Whale Alert (@whale_alert) July 26, 2024

🚨 22,891,710 #XRP (13,531,863 USD) transferred from #Binance to unknown wallethttps://t.co/dP9Wynkrdg

— Whale Alert (@whale_alert) July 26, 2024

However, data from XRP explorer Bithomp indicates that the recipient wallets are also associated with Binance, implying that these transactions were internal fund transfers within the exchange.

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Meanwhile, XRP, the seventh-largest cryptocurrency by market capitalization, remains stable around $0.60155, showing little movement over the past week.

XRP’s price experienced fluctuations, peaking at $0.63 and then dropping to $0.54 before climbing back to $0.62.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.