Massive XRP Transfers Witnessed From Binance As XRP Price Hits $0.52

Ripple’s XRP once more drew attention from the wider industry. Amidst a notable upward trend that pushed the token beyond the $0.52 threshold, there has been a remarkable surge in whale activity, sparking speculations among the crypto community. 

On-chain data reveals a movement of nearly 80 million coins to and from exchanges by whales, referring to large-scale crypto investors. This activity has brought significant focus to Ripple-backed asset, which ranks among the top 10 cryptocurrencies by market capitalization. 

According to data from Whale Alert, a total of 79.8 million XRP coins were transferred between wallets and exchanges, in three separate transactions within the last 24 hours. Among these transactions, two involved significant accumulations of XRP, while a notable XRP whale has been consistently transferring coins to exchanges, attracting considerable investor attention in the market. 

The wallet addresses rfQ9EcLkU and rarG6FaeYh acquired 25.22 million and 26.26 million coins from Binance. On the other hand, …Rzn, associated with a prominent XRP whale, transferred 28.32 million XRP to Bitstamp. These transactions, showcasing simultaneous accumulation and dumping activities, have sparked mixed sentiments among traders and investors. 

Furthermore, speculation surrounding the future price direction of XRP has intensified as Ripple was recently observed transferring substantial quantities of XRP has intensified as Ripple was recently observed transferring substantial quantities of XRP to and from escrow. As part of its monthly strategic operations, Ripple releases 1 billion XRP, influencing the market dynamics of the token. 

At press time, XRP is trading at $0.52, reflecting a 0.46% increase in the last 24 hours. 

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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