According to recent reports published by popular blockchain tracker Whale Alert, which tracks massive and large cryptocurrency transactions, over the past 24 hours, anonymous whales have moved two huge chunks of XRP from the world’s largest cryptocurrency exchange, Binance.
According to recent reports published by popular blockchain tracker Whale Alert, which tracks massive and large cryptocurrency transactions, over the past 24 hours, anonymous whales have moved two huge blocks of XRP from the world’s largest cryptocurrency exchange, Binance.
These mysterious transactions both excited and baffled the XRP community, as can be seen in the comments to those tweets. Meanwhile, the price of XRP has faced a major drop but has started trying to recover.
54.4 million XRP in motion
Whale Alert has shared that two large XRP transactions, involving 26,234,427 XRP and 28,218,783 XRP, were made from the Binance exchange to blockchain addresses labeled by the aforementioned data source as unknown.
These XRP shards were valued at $12,389,973 and $13,455,894 at the time the transfers were made.
Over the past few months, Binance has seen these large-scale XRP withdrawals almost every week, with rare exceptions. Furthermore, regular large deposits of XRP have reached such major exchanges as Bitso and Bitstamp, as tens of millions of XRP landed on these cryptocurrency trading platforms. These regular transfers, which have intensified in recent weeks, underline the increased whale activity regarding the top 10 XRP coins affiliated with the giant Ripple.
Yuri MolchanXRP Rebounds After Recent Price Drop
In the last 24 hours, the seventh largest coin by market capitalization size,
However, in the last few hours, XRP has managed to recover almost 2% of that loss and is changing hands in $0.47732 at the time of writing.
XRP’s decline followed that of cryptocurrency market leader Bitcoin, which fell from over $64,000 to the $62,300 area in the past 24 hours. Bitcoin has seen a major price drop as miners continue to sell millions of US dollars worth of BTC since the halving that took place in mid-April this year and block rewards were reduced by 50% to reach 3,125 BTC per block and 450 BTC per block. mining day
