40 Million XRP Moved to Binance Amid Optimistic 12% Surge in Price
- Massive Transfer: 40 million XRP ($124.79M) moved to Binance; likely internal funds reshuffling.
- Market Surge: XRP rose 12% to $3.29 after Bitcoins new ATH of $109,114.
- Regulatory Shift: Ripple CTO urges unity as SECs Gensler steps down.
A staggering 40 million XRP, valued at $124.79 million, was transferred to Binance, as revealed by Whale Alert, a leading blockchain tracking service. This massive transaction was flagged by the crypto community as a bullish signal. Yet, the altcoin explorer Bithomp reports that the transfer likely originated from Binance itself, indicating it might be an internal reshuffling of funds.
The anonymous wallet that initiated this large-scale transfer was linked to Binance, raising questions about its significance. While many speculated about potential whale activity, data suggests Binance was merely redistributing its XRP reserves. This transaction added fuel to ongoing discussions about XRPs market behavior, with some seeing it as a sign of increased market confidence.
XRP Surges 12% Following Bitcoins Rally
On January 20, XRP soared by over 12%, climbing from $2.92 to $3.29 before stabilizing at $3.25. This surge came after a 9.21% dip the previous day, showcasing the tokens volatility. The rally coincided with Bitcoin reaching a historic all-time high of $109,114, dragging the broader crypto market upward. The altcoin, the third-largest cryptocurrency by market cap, mirrored Bitcoins upward momentum, solidifying its position as a key player in the market.
Adding to the buzz, Ripple CTO David Schwartz commented on Gary Genslers exit from the U.S. Securities and Exchange Commission (SEC). In a community-driven discussion, Schwartz cautioned against internal conflicts within the crypto space, advising supporters to focus on potential regulatory challenges rather than infighting. His remarks highlight Ripples strategic approach to navigating regulatory uncertainties.
A massive transaction involving 40 million XRP, valued at $124.79 million, has drawn attention, coinciding with the altcoins 12% price surge to $3.25 within 24 hours. This upward momentum aligns with Bitcoins recent all-time high of $109,114, which has injected optimism across the cryptocurrency market. The altcoin maintains its position as the third-largest cryptocurrency by market capitalization, further solidifying its influence in the digital asset space.
As XRP continues its price recovery and community discussions heat up, the interplay between whale activity, market movements, and regulatory developments remains a critical focus.
Read more: https://www.tronweekly.com/40-million-xrp-moved-binance-12-surge-in-price/
Text source: TronWeekly
