Over 33.33 million XRP departed the largest cryptocurrency exchange in the world, Binance, over an hour ago in an unidentified direction, as made public by a report from Whale Alert.
Examining the transfer’s specifics, it seems that XRP tokens with a total estimated value of $16.28 million were taken out of the address known as the Binance address and sent to the address “rhWj9.” The Bithomp explorer claims that the latter was triggered earlier this year with the transfer of over 4.17 million XRP, also from Binance.
Nevertheless, specific details regarding the owner of this wallet are lacking. Some of the XRP tokens were further dispersed to many other platforms, including as Stake, Bithumb, and Upbit, following the most recent payment to the account. Remarkably, the top two cryptocurrency exchanges in South Korea are the latter two. There are now little less than 32 million XRP at the “rhWj9” address.
XRP price outlook
Significant price variations are occurring for the seventh largest cryptocurrency, XRP, as millions of its units are shifting between exchanges and unidentified addresses. Following a 30% decline since Friday and a subsequent 23% increase, XRP has experienced fresh selling pressure over the last two days, resulting in a current quotation of less than $0.49 per token, or less than half a dollar.
Withdrawals from exchanges are seen by the general public as optimistic indicators, however it is unclear how exactly these actions will affect XRP’s price path. The enigmatic motivations underlying this enigmatic whale action and its impact on the market will eventually become clear.
