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HomeCrypto NewsMarketNearly 296 Million XRP Worth $110M Sent to Binance From an Unknown Wallet 

Nearly 296 Million XRP Worth $110M Sent to Binance From an Unknown Wallet 

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Whale Alert observed the large movement of XRP from an unknown address to Binance.  


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The leading crypto whale tracking service is always in the business of tracking large cryptocurrency transfers among various cryptocurrency wallets. 

This time, the cryptocurrency whale tracking service saw a whopping amount of Ripple (XRP) transferred from an unknown wallet to Binance, the world’s largest exchange by 24 hours trading volume. 

According to Whale Alert, a total of 295,500,011 (229.5 million) XRP coins were sent from an unknown wallet to a Binance today at 12:39 PM (UTC). At the time of the transaction, the funds were worth $110.6 million. The funds were sent in a single transaction.

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XRP Price Still Stable Despite the Transaction

A transaction of this sort usually suggests that the owner of the XRP coins transferred the funds to Binance for selling. 

It is worth mentioning that the amount of XRP in the transaction is nothing compared to the volume of XRP traded across various exchanges in the last 24 hours. Per data on cryptocurrency aggregator platform Coingecko, XRP has a 24-hour trade volume of approximately $1.38 billion

Based on this, the price of XRP will not be affected in any way. XRP is currently at break even in the last 24 hours, with the asset class changing hands at around $0.375. 

Other Large XRP Movements in 24 Hours

Meanwhile, aside from the 295.5 million XRP sent to Binance, Whale Alert observed the movement of large Ripple coins between exchanges and crypto wallets in the last 24 hours. 

Per Whale Alert, 30 million XRP ($11.29 million) were sent from an unknown wallet to Bitstamp, and another 31,769,271 XRP were transferred to an unnamed wallet from FTX. 

Additionally, 44.98 million XRP flowed from Binance to an unknown wallet earlier today, while 30 million Ripple coins were sent to Bitso from an unknown wallet. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Author

Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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