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HomeCrypto NewsMarketBinance Moves 350M XRP as Whales Set 528M Tokens in Motion

Binance Moves 350M XRP as Whales Set 528M Tokens in Motion

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Whales have moved over 528M XRP in under 24 hours, with a Binance-affiliated address involved in the movement of 350M tokens.



XRP whales appear more active these days amidst the neverending market volatilities, as whale movements involving 528.6M XRP were recently recorded within 24 hours. These whale transactions follow a similar pattern of movements indexed recently at the start of the asset’s comeback.

The latest batch’s largest recorded transaction involved an outflow from Binance through a Binance-affiliated address to an unidentified wallet. The enormous movement saw 350M XRP valued at a $134.8M leave Binance on Wednesday, 3:48 AM (UTC), as disclosed by Whale Alert.

 

Following the massive movement, the wallet address that appears to be affiliated with Binance has a balance of a whopping 1.32B XRP worth over $511M at the time of writing. The address was activated as far back as 2018, a year after Binance was founded.

Meanwhile, the earliest XRP whale movement involved another exchange outflow to 33M XRP ($12.8M). The whale moved the XRP tokens from Bitstamp to an unknown wallet on November 15, 9:50 PM (UTC), Whale Alert reveals.

A minute later, another whale movement involving Bitstamp occurred which saw 60M XRP worth about $23.3M move out of the Luxembourg-based exchange on November 15, 9:51 PM (UTC). In one minute, this outflow was the second massive XRP outflow from Bitstamp.

Before outflows, an exchange inflow involving Bitstamp appears to have concurrently occurred, as 60M XRP was transferred from an unknown wallet to Bitstamp on November 15, 9:51 PM (UTC).

About 9 minutes later, an internal transfer between two Bitso addresses occurred, as 25.6M XRP ($9.9M) moved from one Bitso wallet to another Bitso wallet on November 15, 10:00 PM (UTC).

In total, 528M XRP moved in a few hours.

These above five transactions occurred after whales moved 259M+ XRP twenty-four hours ago when the XRP rally picked up, making XRP the highest-gaining asset amongst the top 20 cryptocurrencies by valuation, as recently reported. The recent transactions have occurred amid the resistance XRP has faced in its journey to reclaim the 40-cent price point.

Despite a loss of steam, XRP has maintained a 3% gain in the past 24 hours, trading at $0.38 as of press time. The asset attempted to reclaim the $0.40 zone on Tuesday but faced fierce resistance.

Meanwhile, sentiments surrounding Ripple and XRP remain bullish amid the panic surrounding the broader cryptocurrency space of late. On Tuesday, Ripple announced a partnership with the African mobile money interoperability hub MFS Africa. The partnership would see MFS Africa utilize Ripple’s ODL solution as Ripple seeks to penetrate the African market.

Regarding the legal tussle with the US SEC, Ripple appears to have had more amicus briefs approved than the regulatory watchdog. The Crypto Basic recently revealed that Judge Torres had approved 11 amicus briefs in favor of Ripple, with only 2 in the SEC’s favor.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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