Over $21 million worth of XRP was quickly sent to Binance, a top cryptocurrency exchange, in two large transactions. This has caused a lot of discussion in the XRP community.
The well-known cryptocurrency tracking service Whale Alert found and reported the transfers. These transfers have caused people to talk about why a great deal currency is being moved.
In the first deal, an unknown bank sent 21.37 million Ripple to Binance. This amount is worth about $10.9 million. Not long after that, an unknown source told the exchange about another significant move of 21.34 million XRP, worth about $10.9 million.
XRP Whales’ Binance Moves
The time of these trades is during a time when the cryptocurrency market is very volatile and uncertain. XRP has been under a lot of pressure lately, which has been made worse by changes in the market as a whole and worries from regulators.
Analysts think that these trades might be a smart move by “whales,” or people who own a lot of Ripple. They may be selling their shares because the outlook is generally awful. Many sellers are rethinking their positions because of the recent drop in the market. This has made people rush to sell their assets to avoid losing currency.
Today, XRP has shown that it can handle bad news, even though most people are pessimistic Ripple is worth $0.514 right now, which is 4.82 percent more than it was 24 hours ago. Even though the market is adverse right now, this rise may not fully make up for the losses that have already been made. It shows that buyers still believe in the digital asset.
