Binance’s Mysterious XRP Withdrawals to Unknown Countries Continue – Millions of XRP Disappear

Binance's Mysterious XRP Withdrawals to Unknown Countries Continue – Millions of XRP Disappear

According to data shared with the crypto community by prominent blockchain tracking service Whale Alert, Binance has seen another massive chunk of XRP leave its wallet via a blockchain address belonging to an anonymous whale.

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According to data shared with the crypto community by prominent blockchain tracking service Whale Alert, Binance has seen another massive chunk of XRP leave its wallet via a blockchain address belonging to an anonymous whale.

The XRP community began actively discussing this transfer in the comments, speculating about the purpose of this transaction and its fate. Meanwhile, XRP has so far failed to recover after the huge drop it suffered on Friday.

30.4 million XRP on the move from Binance

Over an hour ago, the aforementioned data source spread the word about an astonishing XRP transaction made from a Binance wallet to a blockchain address with an unregistered owner. The anonymous whale made a withdrawal of 30,406,274 XRP in total. This amount of cryptocurrency is valued at $15,073,991.

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The community started a heated discussion in the comments, reflecting on the nature of this transaction: the identity of the whale that initiated it and the destination to which the XRP fragment was sent.

Overall, XRP users remain bullish on the Ripple-affiliated cryptocurrency, with some even expecting it to make a bullish breakout this week. One commenter suggested that the anonymous recipient of this transfer could be a bank.

In fact, this transaction looks like a purchase that could be made by a financial institution or a private cryptocurrency investor.

It should be noted that these large transfers of XRP from the world’s largest crypto exchange to unknown wallets have been going on for several months, as Whale Alert has been reporting on them every week, multiple times a week. Still, data shared by the Bithomp-focused data platform of crypto trading between their wallets.

Related

Thu, 06/06/2024 – 08:27
Ripple CTO Issues Crucial Warning to XRP Community

XRP Price Performance

Since Friday, XRP has lost just over 6% of its price. On Friday, XRP faced a 7% price drop, printing three consecutive red candles on an hourly chart, and one of those candles was tremendous. On that day, XRP plummeted from the $0.526690 level.

Since then, XRP has been trying to recover, but has so far failed to do so. been trading sidewaysmoving in the range of $0.49617.

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