Anonymous whale moved 84.3 million XRP to Binance, while XRP price remains at the $0.56
XRP price fell below the $0.6 resistance – now expected to act as support. Meanwhile, an anonymous whale moved 84.3 million XRP to Binance.
84.3 million XRP transferred to Binance, while the price trading at $0.56
Whale Alert detected a massive XRP transaction amounting to $84.3 million tokens. This is equivalent to a value of $49,334,500, transferred to the Binance exchange.
The details show the transaction made by the Bybit trading platform. Unlike Binance.US and other major crypto exchanges, Bybit did not suspend XRP trading this year after the SEC initiated a legal case against Ripple Labs in late December 2020. It looks like they are getting ready to stake into FLARE.
Source: Whale-alert
XRP has been falling since April 12 after hitting a high of $1.96. Since then, it has failed to sustain the uptrend and has now dipped below the $0.56 area. Until the $0.59 zone is recovered, the trend cannot be considered bullish.
XRP/USD 4-hour chart | Source: TradingView
Meanwhile, XRP, the sixth-largest cryptocurrency, continued to trade in the $0.50 range in mid-July and has remained there since then, moving only slightly up to ~$0.56 at the time of writing.
Read more:
- Ripple’ Small Victory In The Ongoing Battle With The SEC Is Not Enough To Help XRP Price Increase In The Near Term
- XRP Ledger Foundation Has Set Up A New Office In A European Country, Ripple Will Bring Clarity To Crypto Industry