Another XRP whale moves funds from the exchange, now storing $150 million in a private wallet
Whale Alert detected a massive XRP transaction made just a few hours earlier. This is one of the largest non-exchange transactions made on the Ripple blockchain over the past few months.
Source: Whale Alert
XRP whale withdraws 150 million coins from Binance
Reportedly, an anonymous whale transferred 150 million XRP worth about $150 million from the Binance exchange to an unknown wallet holding 150 million XRP.
Previously, the same wallet made small, insignificant transactions to different exchanges worth about $20 – $30. The first significant transaction was made. After receiving a substantial amount, the wallet spent about 100,000 coins by transferring them to the UpBit exchange. The purpose behind such an unusual fund redistribution has yet to be revealed.
XRP price does not consider significant funds moving in a market with prices constantly moving in the same trend. The asset broke a four-day uptrend by falling below $0.98.
XRP/USD 4-hour chart | Source: TradingView
At the time of writing, XRP is changing hands at $0.9757. XRP is one of many victims of the global crypto market correction in the markets due to the increased risk-off bias following the rise of the worldwide pandemic.
As AZCoin News reported, many whales have made large transactions from various centralized exchanges back to their wallets. Such a trend is tied to the overall trend of money flows in the cryptocurrency market
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