Binance moved over 94,000,000 XRP

Experts from the world of cryptocurrencies have noticed that large holders of Ripple tokens have begun their movement. Binance, for example, moved over 94,000,000 coins. Other major figures in the digital asset market have moved 335,000,000+ tokens in XRP. Thus, the total number of transactions in XRP almost reached the mark of 430,000,000.

All transactions were monitored by Whale Alert in real time. The first major transfer involving Binance took place today at 04:12 UTC +0, and the exact transaction amount was 94,311,360 (~$39,900,000). Who became the addressee of the transfer is still unknown.

It is noteworthy that the recipient wallet was previously seen only in the history of transactions involving Binance. For this reason, it is logical to assume that the wallet belongs to this cryptocurrency company or person who is somehow connected with Binance.

Other XRP transactions involving this address have also been seen previously. In November 2022, Binance transferred over 350,000,000 XRP to this account.

Representatives of another analytical company Bithomp claim that after the transaction, more than 255,000,000 XRP (~ $101,000,000) remained on Binance accounts.

Prior to the major transfer of funds to Binance, there were five other transactions involving major players in the cryptocurrency market. The latter made transfers for a total amount exceeding 335,000,000. It took them a total of 2 hours for such large transfers.

Many transfers of funds have used a central wallet as a routing medium for the Bitstamp crypto exchange. January 15 at 21:00 UTC +0 during the period of large transactions, the largest transfer of funds was 209,000,000 (~$80,900,000) from one unknown address to another.

It is worth noting that all transactions were made after Ripple tested the $0.40 resistance level and fell below this value. For about two months, XRP has been trading below $0.40 and now, due to the rise of the cryptocurrency market, the token has managed to reach this mark. Over the past hours, the price of XRP again reached $0.40, after which it fell to $0.386.