Big Move: 88 Million XRP Transferred In and Out of Binance and Coinbase

Whale Alert, a blockchain tracking tool, has reported that large XRP holders have moved more than $88 million in XRP to Coinbase and from Binance to unidentified wallets during a minor market decrease.

XRP whales, closely watched by cryptocurrency enthusiasts, have carried out a series of substantial transactions, sparking speculation about their future strategic actions.

These massive movements, captured by the blockchain tracking platform Whale Alert, involved over $88 million in XRP, which included transfers to Coinbase and movements from Binance to unknown wallets. This flurry of activity occurred despite a slight 0.57% drop in XRP’s market value over the last 24 hours.

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Substantial Transfers to Coinbase

As per the whale alert report, multiple large transactions were detected from anonymous wallets to Coinbase, the first of which involved 39,401,162 XRP valued at around $20,712,323. The sender, identified by the wallet address “rnnXxL5TQV…11Z5ZKaAN5,” transferred the funds to a recipient at Coinbase with the address “rUjfTQpvBr…GG76nvp8Ln.”

This transaction, which occurred three hours ago, was rapidly succeeded by a similar substantial transfer of 39,635,128 XRP, valued at $20,835,314. The funds were sent from an unidentified wallet (rEUiR8963k…oMqtxzmzWP) to Coinbase, with the receiving wallet being the same as the previous transfer. This indicates a coordinated effort by the involved whale.

Additionally, the series of large transfers continued with 39,564,579 XRP, worth $20,798,228, moved from another unidentified wallet (rGL7E9s5Gs…qp51eXJ2pj) to Coinbase. The receiving wallet once again matched those of the earlier transactions.

Transfers from Binance to Unidentified Wallets

Alongside the transfers to Coinbase, there were noteworthy movements from Binance to unidentified wallets. One significant transfer involved 25,371,334 XRP, valued at about $13,365,853. This transaction was initiated from Binance’s wallet, identified as rDAE53VfMv…Qxfht6JPxr, and sent to an unidentified wallet address, rarG6FaeYh…gFsPn2bZKk.

Another major transaction saw 24,887,349 XRP, worth approximately $13,076,779, moved from Binance to another unidentified wallet. The sender’s wallet address was the same Binance wallet used in the previous transaction, while the receiver’s address was rfQ9EcLkU6…eN47Rk8Cvi.

XRP Technical Indicators

Presently, the XRP market is showing signs of consolidation with low volatility, as evident from the MACD indicator trending just below the zero line at -0.00084 on the one-day chart. This positioning implies a period of indecision among traders and suggests a potential breakout in either direction.

Further backing this observation, the MACD’s histogram indicates bars that are flattening along the zero line, signaling a lack of market momentum. At the same time, the RSI indicator is situated in the neutral zone at 49.91, reinforcing the absence of a clear market trend.

Since the RSI is neither in overbought nor oversold territory, it confirms that the market is in a state of equilibrium without any dominant buying or selling pressure.

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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.