A significant transfer of 40 million XRP, valued at approximately $124.7 million, was recently detected by Whale Alert moving towards the Binance exchange. This substantial movement immediately sparked speculation within the crypto community, with many anticipating a potential surge in XRP’s price.
However, further investigation revealed a possible alternative explanation. Data from Bithomp suggests the originating wallet for this massive XRP transfer is linked to Binance itself. This finding points towards the possibility of an internal transfer within the exchange rather than an external deposit.
Despite this revelation, XRP’s price experienced a notable surge, jumping more than 12% from $2.92 to $3.29. The price has since stabilized around $3.25.
January 2025, Cryptoniteuae
