Over $11 million worth of XRP, equal to 18.91 million coins, was moved from Binance to an unknown wallet, marking a huge shift in the crypto market.
This follows a similar event in which around 18.34 million XRP, worth $11.2 million, was transferred from Binance exchange to an unknown wallet.
Furthermore, these large-scale trades, dubbed “whale movements,” have attracted debate and research within the bitcoin community.
These significant withdrawals often indicate purposeful movements by important participants in the market, such as XRP accumulation, in which wealthy investors increase their holdings in expectation of future price gains.
The timing of these transactions is interesting considering XRP’s recent performance, which has increased by over 21.79% in the previous 30 days, indicating rising investor interest and confidence about the asset’s future.
According to CoinGlass data, a high degree of trading activity around XRP, with $1.15 million in liquidations in the previous 24 hours, indicating a turbulent market environment for XRP, with traders wagering on both sides of price movement.
