45.6 Million XRP Withdrawal Stuns Largest Crypto Exchange Binance

Crypto community witnessed massive XRP outflow from Binance within short period of time

Whale Alert blockchain sleuth, which monitors large cryptocurrency transactions and shares the details of them on the X social media network, has reported two massive XRP transfers.

Both were worth roughly $13.5 million in fiat and both came from Binance, disappearing in the depths of unknown wallets.

Almost 50 million XRP disappear from Binance

Two anonymous whales have withdrawn 22,891,710 and 22,814,856 XRP from the world’s biggest cryptocurrency trading platform in terms of daily volume, Binance. Together that totals approximately 45.6 million XRP evaluated at $27.1 million.

This could be a sign of crypto whales resuming their XRP buying spree that has somewhat become less active recently. However, additional data shared by XRP-focused explorer Bithomp show that both wallets to which the millions of XRP were transferred are related to Binance. Therefore, these staggering XRP movements have proved to be fund reshuffling undertaken by Binance.

Recent XRP price performance

In the meantime, the seventh largest cryptocurrency by market capitalization value, Ripple-affiliated XRP, continues to trade within the $0.60155 range, it has been moving sideways for the past week. During the week, XRP attempted to break out, reaching first the $0.63 level, then falling and surging again, this time to the $0.62 mark.

In the middle of the week, XRP saw a massive 16.11% price increase, when it soared to $0.63 from $0.54 within roughly five days. After that, the coin lost 4.62% in a decline, striving to regain bullish momentum and start rising again.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.