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.
? ? ? ? ? ? ? ? ? ? 350,000,000 #XRP (134,818,654 USD) transferred from #Binance to unknown wallethttps://t.co/o246HD5BWo
— Whale Alert (@whale_alert) November 16, 2022
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.
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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