Three different whale XRP transfers recorded from the Binance crypto exchange in the last 24 hours have caused wide repercussions in the cryptocurrency world. This event started a debate about the future of XRP and its mobility in the market. There are various speculations, especially about whether such large-scale transfers are an accumulation trend or a more strategic move.
Such large transfers are extremely rare in XRP transactions. However, recently, the consistent increase in XRP outflows, especially from the same exchange, has caused this situation to become remarkable. Such intense movements are often interpreted as a sign of coordination between a whale or institution and can have major impacts on other players in the market.
There are many theories about why these large-scale transfers were made. While some speculate that a specific investment strategy is behind these transfers, others claim that this move is a sign of a larger shift in the market. However, a definitive statement has not been made yet, and this has created uncertainty among the XRP community.
Separating XRP Transfers
According to data from Whale Alerts, the largest of these transfers consists of 20,898,914 XRP worth a remarkable $11,286,635. However, what is interesting is that, according to data from Bithomp, the recipient of these funds also appears to have been activated by Binance. This led to speculation that the transaction may be related to Binance’s internal fund movements.
Additionally, in another transfer, 18,544,887 XRP worth $10,016,690 was moved from the exchange to another wallet enabled by Binance. In the third transaction, a transfer worth 19,905,635 XRP or 10,751,673 dollars was made. These transfers all show a unique trend when analyzed correctly: all three transfers can be traced to the same wallet, which means that a single whale with strong ties to Binance could be behind this movement.
While in past months, most XRP transfers have had a strong tie to Ripple Labs and preferred exchanges often include Bitstamp and Bitvavo, these Binance-linked transfers appear to represent a new major trend. This increasing influence and strong ties of Binance in XRP transfers can be considered as an important development in the cryptocurrency world. Such large-scale transfers can cause widespread market activity and should be carefully monitored among investors.
Other Transfer
While these XRP transfers were accumulating, another big whale transaction emerged involving an entry into Binance. Whale Alert data shows that 95,000,000 XRP worth $51,369,170 were transferred to the exchange.
Amid these transfers, XRP is trading at $0.5493. The asset’s trading volume also decreased by 14% to $1,346,957,786.
Source : the crypto basic