100 Million XRP Moved as Whales Spark Buying Spree
Massive XRP Accumulation by Whales
Cryptocurrency whales have embarked on a substantial buying spree, acquiring 100 million XRP over the past two days. This significant accumulation, highlighted by on-chain data aggregator Santiment, involves large wallets holding between 1 million and 10 million XRP. At current exchange rates, this amount is valued at approximately $327 million.
XRP Price Volatility
The purchase occurred amid notable price fluctuations. XRP, the third-largest cryptocurrency by market capitalization, initially dropped over 10% from $3.27 to $2.92. However, it quickly rebounded, surging more than 14% to reach $3.33. This price movement aligns with Bitcoin's trajectory, as BTC reached a new all-time high of $109,114 before slightly retracing to $107,468.
40 Million XRP Transfer to Binance
Additionally, a transfer of 40 million XRP was made to Binance, the largest global crypto exchange. While this initially appeared to be a bullish sign, data from Bithomp revealed that the transaction was an internal movement within Binance, rather than an external deposit.
This activity underscores the ongoing dynamics of whale behavior and its impact on the XRP market.
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