An unknown crypto whale has transferred a significant amount of XRP to popular cryptocurrency exchange Binance.
Leading blockchain tracking platform Whale Alert flagged the major XRP transaction today, revealing that an unidentified whale transferred 94,699,869 XRP (94.69 million tokens) to Binance. At the time of the transfer, the haul was valued at roughly $217 million, marking one of the largest XRP exchange inflows seen this week.
Imminent Sale?
Transfers of this size usually spark speculation within the crypto community. Most users in the comment section have been interpreting that the so-called unknown whale behind the transaction might be preparing to sell.
One user speculated that the anonymous whale may be preparing to dump the tokens on the market, potentially aiming to buy back XRP at a lower price. However, data from XRPScan shows that the transaction is part of an internal shuffling by the world’s largest crypto exchange.
The transaction, which occurred today at 08:25 (UTC), shows Binance moving 94.69 million XRP from one of its wallets, labeled “Binance 17,” to another, tagged “Binance 13.” Following the transaction, the Binance 17 wallet had a balance of 162.58 million XRP, while the recipient address had 95.21 million tokens in its balance as of the time of publication.
Other Large XRP Transfers
Beyond the Binance transaction, Whale Alert also flagged another sizable XRP movement involving a major exchange. In the early hours of today, U.S.-based crypto exchange Coinbase shifted 92.63 million XRP, worth approximately $214.27 million, between its internal wallets.
Additionally, two unidentified whales transferred another 92.6 million XRP, valued at roughly $214.14 million, in a wallet-to-wallet transaction. Over the past 24 hours, Whale Alert has also tracked several other massive XRP movements by unidentified whales, including transfers of 96.94 million XRP ($224.95 million) and another 96.96 million XRP ($225.16 million).
XRP Dips Over 8% in 24 Hours
Meanwhile, the series of transactions occurred amid a broader downturn in the crypto market. Top assets, including Bitcoin, Ethereum, and XRP, have experienced significant declines over the past day.
Specifically, XRP has fallen 8.14% over the past 24 hours, currently changing hands at $2.26 per token. Despite the recent dip, the token is still up 3.66% over the past week.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
