Recent whale activity in the XRP market has garnered attention as a single entity transferred 25,419,259 XRP, valued at approximately $13,335,299, from Binance exchange to an undisclosed wallet. The transaction was reported by crypto analytics tracker Whale Alert.
XRP, a digital currency ranking among the top 10 by market capitalization, has long been a subject of debate due to its stagnant price despite active trading and whale movements.
The whale behind the substantial transfer from Binance appears to be consolidating its position in XRP. While the exact intentions remain unclear, the move aligns with the observed resistance at the $0.6 mark over recent weeks.
Notably, this whale has a history within the XRP ecosystem, with data from Bithomp Explorer indicating its activation on Binance in November 2024. Since then, it has been involved in numerous XRP transactions.
While transfers from Binance could signal potential bullish sentiment, past behavior suggests the possibility of further distribution to other exchanges, potentially contributing to sell pressure. The whale currently holds a balance of 59.328 million XRP.
Investors speculate that the recent $13 million transaction may indicate strategic buying, given the perceived discount in XRP’s current price. This anticipation, coupled with similar recent buy-ups, has led to cautious optimism regarding a market rebound.
As of the latest data, XRP is trading at $0.5273, showing a modest increase of 0.15% in the past 24 hours, reflecting the impact of whale activity and raising hopes for a resurgence in XRP’s value.
