An anonymous wallet moved 40 million XRP to a wallet owned by Binance

According to on-chain trading activity, an anonymous wallet ending with “kskkhi” transferred 40 million XRP to a wallet owned by centralized exchange Binance. And most likely this whale will sell those tokens immediately.

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Source: Bithomp

Anonymous wallet moves a large number of XRP to Binance while the crypto market recovers

While others decided to keep their coins in cold or hot wallets instead of an exchange, this XRP whale moved a large number of funds to a centralized exchange and most likely sold instantly.

Currently, this unknown wallet holds nearly 13 million XRP. The wallet received 40 million XRP just one day before there was a large transaction from another unknown wallet containing significantly more coins.

The exchange between the undisclosed whales is completely anonymous and unknown to the public. The second wallet, which originally traded 40 million XRP to the wallet that sold it on Binance, currently holds 156 million XRP. The larger wallet could somehow be connected to another centralized exchange as it continuously receives a large number of funds from it, including those 40 million coins.

The realization of coins on the Binance exchange could lead to a quick retracement of XRP, which is moving with a 2.5% return today. The current daily XRP volume on Binance is 156 million coins. The amount traded represents about 25% of the current daily trading volume on the exchange.

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XRP/USD 4-hour chart | Source: TradingView

At the time of writing, the XRP price is trading at $0.9831, recording a 6% gain over the past 24 hours. Previously, Ripple faced a strong recovery by falling below the $0.90 region and then skyrocketing back to $0.96 in a single day.

Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587

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