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.
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.
Ripple Labs is preparing for another large-scale XRP release, set to occur on May 1, when 1 billion tokens—currently valued at around $2.1 billion—will be unlocked from escrow.
ARK Invest has quietly deepened its exposure to Solana by adding a staked SOL investment to two of its tech-focused ETFs, signaling growing confidence in the blockchain’s long-term potential.
The U.S. Securities and Exchange Commission (SEC) is warming up to the idea of expanding the crypto ETF landscape beyond Bitcoin, with 72 crypto-related ETF proposals now awaiting review.
Coinbase has officially rolled out CFTC-regulated futures contracts tied to XRP, marking a significant step forward for institutional adoption of the Ripple-associated token.