In a significant development within the cryptocurrency market, a huge stash of 51 million XRP was recently transferred from the Binance exchange. This large transaction highlights the ongoing activities of crypto whales, entities or individuals holding substantial amounts of a specific cryptocurrency.
In a significant development within the cryptocurrency market, a huge stash of 51 million XRP was recently transferred from the Binance exchange. This large transaction highlights the ongoing activities of crypto whales, entities or individuals holding substantial amounts of a specific cryptocurrency.
Blockchain tracking services detected the transfer of 51 million XRP, valued at approximately $25 million based on current market prices. In a single transaction, XRP moved from Binance to an unknown wallet.
According Whale alert According to data, 51,627,816 XRP worth $25,261,186 were transferred from Binance to an unknown wallet. This move is part of a broader pattern of whale activity that has been roiling the XRP market.
Whale Alert reports on another major XRP transaction, in which a stash of 26 million XRP was transferred from Binance: “26,247,981 XRP worth $12,821,456 were transferred from Binance to an unknown wallet.”
Tomiwabold OlajideWhales taking out large amounts of XRP from exchanges like Binance could indicate a variety of sentiments. They may be preparing to keep their assets in cold storage for possible long-term holding, suggesting bullish sentiment. On the contrary, it could suggest neutral sentiment, as the move could be a mere reshuffling of funds.
At the time of writing, XRP was down 0.44% in the last 24 hours, down to $0.48. For several days, XRP has traded between the 50-day SMA at $0.51 and key support at $0.46.
The crucial level to watch on the downside is $0.46. If this level gives way, XRP could fall to the critical level of $0.41. The bulls are predicted to buy in the range of $0.46 to $0.41.
The bulls are trying to push the price above the $0.50 mark and if they succeed, the probability of a break above the 50-day SMA improves. XRP could then rise to $0.57.
