94 Million XRP Exits Binance As Bulls Reclaim Control, What’s Going On?
11 März 2024 - 5:00PM
NEWSBTC
Crypto whale transaction tracker Whale Alerts has revealed various
large XRP transactions in the last 24 hours as bullish momentum
returns to the market. Interestingly, five of the large
transactions in the past 24 hours have come from crypto exchange
Binance, with the latest occurring in the past hour. In fact, 94
million tokens were recently transferred from Binance into unknown
wallets, prompting investors to contemplate the reasons behind the
transfers and possible outcomes. Large Transactions From Binance
Data from Whale Alerts reveals that the transfers, worth over $57
million, were sent out of Binance in five transactions of 18
million XRP each. This huge transfer could signal big investors are
buying the altcoin in droves, but the pattern of accumulation also
points to the transactions being carried out by one entity. Related
Reading: Litecoin Beats Out Dogecoin, Bitcoin To Emerge As Top
Crypto For Payments The transfers occurred throughout Sunday,
starting with a transfer of 18.76 million tokens worth $11.7
million from Binance into an unknown wallet. Subsequently, 18.4
million tokens, 19.2 million tokens, 18.8 million tokens, and 18.7
million tokens worth $11.26 million, $11.47 million, $11.19
million, and $11.69 million were sent into private wallets. 🚨
18,750,448 #XRP (11,698,918 USD) transferred from #Binance to
unknown wallethttps://t.co/aeCHQ4RYxA — Whale Alert (@whale_alert)
March 11, 2024 Investors can only speculate as the identity of
wallet addresses is mostly unknown. But shifts of this magnitude
often foreshadow market sentiment. These enormous transactions in
such a short time span negate a random pattern and suggest
accumulation from the parties involved. However, the
transfers could have also been carried out by Binance itself, as
on-chain data shows all recipient addresses were activated on the
same day by the exchange. Furthermore, this pattern of 18 million
XRP tokens departing Binance in each large transaction began on
Friday. Essentially, the transfers could have been due to wallet
maintenance or liquidity factors. What’s Next For XRP? XRP
has majorly underperformed other large market-cap cryptocurrencies.
At the time of writing, the token is trading at $0.6219 and is up
by 18% in 30 days. For comparison, Bitcoin, Ethereum, and BNB are
up by 49%, 58%, and 63% respectively in the same timeframe.
Related Reading: Crypto Whales Bet Big On LINK – Is Chainlink The
Next Bitcoin? However, XRP enthusiasts continue to remain strong
and anticipate a strong bullish run. According to attorney Bill
Morgan, XRP is set to surpass its all-time high of $3.4 this cycle.
Right now, XRP is showing other signs of building momentum, like a
recent breakout above a long-term downtrend line. A popular
crypto analyst known as Ash Crypto noted that the altcoin is on the
verge of a multi-year breakout. The last time this happened, XRP
went on a surge throughout 2017 and 2018 to reach its current
all-time high. XRP MASSIVE BREAKOUT 🔥 XRP IS ON THE VERGE OF
MULTI- YEAR BREAKOUT ONCE IT BREAKS OUT, THE PUMP WILL BE HUGE !!
pic.twitter.com/4UuwyMXHJU — Ash Crypto (@Ashcryptoreal) March 10,
2024 According to the analyst’s XRP chart, a repeat of this
breakout would lead to a surge of epic proportions to $18. Token
price reaches $0.625 | Source: XRPUSD on Tradingview.com Featured
image from Coingape, chart from Tradingview.com
Ripple (COIN:XRPUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024