- Whale Alerts tracked a major outflow: 100 million XRP transferred from Binance to various private wallets.
- Previous day saw 457 million XRP, worth over $234 million, moved into exchanges like Bithumb and Bitvavo.
Recently, XRP has been the subject of significant trading activities by large-scale investors, commonly referred to as “whales,” which have impacted its presence on various cryptocurrency exchanges.
Notably, a substantial transaction saw 158 million XRP tokens, worth $77 million, transferred to the Binance exchange.
🚨 🚨 🚨 🚨 158,473,000 #XRP (77,333,753 USD) transferred from unknown wallet to #Binancehttps://t.co/LfuKq07FZp
— Whale Alert (@whale_alert) April 16, 2024
Such movements typically indicate potential sell-off intentions from major holders, suggesting a pessimistic outlook on XRP’s future prices.
Related: Ripple’s Showdown: SEC Response Deadline Nears – XRP Price Eyeing $1 Milestone
In contrast, the tracking service Whale Alerts noted considerable volumes of XRP moving from Binance back to private wallets. This included a notable transaction where 100 million XRP, equivalent to about $48 million, was transferred into private holdings across several transactions.
This activity may signal a more optimistic sentiment among some sections of the investor community regarding XRP’s value.
🚨 28,940,000 #XRP (14,229,498 USD) transferred from unknown wallet to #Bitstamphttps://t.co/1dKLjvUQXv
— Whale Alert (@whale_alert) April 16, 2024
Additionally, previous day records showed an influx of 457 million XRP, valued at over $234 million, into exchanges such as Bithumb, Bitvavo, and Bitstamp, with the largest single transaction involving 390 million tokens sent to Bithumb.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 390,869,591 #XRP (201,100,740 USD) transferred from unknown wallet to #Bithumbhttps://t.co/IMNZBQEP6D
— Whale Alert (@whale_alert) April 15, 2024
[mcrypto id=”12299″]
At present, XRP is priced at $0.4986, marking a 1.79% increase over the last 24 hours. Despite this slight uptick, XRP has experienced a significant downturn, decreasing by 18% and 20% over the last seven and thirty days, respectively.
Read more: Critical Day for XRP: Ripple vs. SEC Pretrial Conference Could Drive $2 Rally
These large transactions underscore the volatility and speculative nature of XRP’s market, influenced heavily by the actions of major investors.
