Ripple Transfers $152M in XRP to Binance
- Ripple transfers large XRP amount to Binance, unsettling market.
- Market reaction yields minor XRP price fluctuation.
- Increased scrutiny on Ripple’s internal coin management.
Ripple transferred around 75 million XRP, valued at $152 million, to a Binance-linked wallet on December 12, following an internal shuffle of over 600 million XRP across its wallets.
The transfer marks significant XRP network activity, attracting community attention amid ongoing market volatility. However, no official comments were provided by Ripple or Binance regarding the purpose of this movement.
Ripple Transfers $152M in XRP to Binance
Ripple has transferred approximately 75 million XRP, equivalent to $152 million, to a Binance-linked wallet. This transaction followed an internal shuffle of over 600 million XRP across Ripple’s wallets, sparking interest within the crypto community.
Ripple executed the transaction through its main “Ripple (50)” wallet. Binance received the transfer for deposit purposes. The operation aligns with Ripple’s ongoing strategy to manage its substantial XRP holdings effectively.
The market’s immediate response was a slight bounce in XRP price, though a downward trajectory persists. The shift in XRP did not entail new funding allocations or partnerships. XRP’s trading volume saw a 30% decline.
Ripple’s actions did not involve institutional entities or regulatory comments. On-chain monitor Whale Alert noted the transfer, but lacked comments. Broader cryptocurrency sentiment remained stable without major trade implications.
Community interest in Ripple’s XRP handling intensified. Analysts track Ripple’s large coin amounts and wallet activities closely. This latest move reflects continued strategic management without announced innovations or expansions.
Market observers remain curious about potential outcomes, including financial stability impacts. Ripple’s history of significant XRP movements often signals internal adjustments. However, no regulatory pronouncements surfaced post-transfer.
“Ripple transferred approximately 75 million XRP (valued at $152 million) to a Binance-linked wallet.”
