<figure> 
 <figcaption>
   Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<p>The <a href="https://u.today/major-ripple-vs-sec-update-xrp-explodes-16-as-judge-torres-delivers-pivotal-summary-judgment" rel="noopener noreferrer nofollow">XRP ruling</a> has fueled a very bullish and emphatic reaction from the community, as it is accompanied by massive buy-ups, a trend that pushed the price of the asset to its highest level in the past year. While XRP is still one of the most profitable altcoins around, some whale activity has <a href="https://twitter.com/lookonchain/status/1681922904458674177?s=20" rel="noopener noreferrer nofollow">suggested</a> a potential sell-off might be incoming.</p> 
<p><a href="https://u.today/xrp-tops-08-after-major-price-spike" rel="noopener noreferrer nofollow">card</a></p> 
<h2 id="data-insight-from-xrp-whale">Data insight from XRP whale</h2> 
<p>Crypto data analytics provider Lookonchain recently revealed that more than 563,571 XRP tokens, worth approximately more than $462,000, have been withdrawn from Binance, the biggest trading platform in the world. While the exact purpose of the withdrawn funds remains unknown, speculations keep growing that it might be a case of liquidation.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">A whale withdrew 563,571 <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a>($462K) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> again yesterday.The whale has withdrawn a total of 2M <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a>($1.66M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a>, the average withdrawal price is $0.51 and the current unrealized profit is ~$640K.<a href="https://t.co/lM0KoEKuVc" rel="noopener noreferrer nofollow">https://t.co/lM0KoEKuVc</a> <a href="https://t.co/p7IeKvz6HC" rel="noopener noreferrer nofollow">pic.twitter.com/p7IeKvz6HC</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1681922904458674177?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 20, 2023</a> 
</blockquote> 
<p>Thus far, the whale has withdrawn a total of two million XRP tokens, estimated to be worth $1.66 million, from Binance. Per the insights shared, the average withdrawal price is $0.51, and the current unrealized profit is approximately $640,000.</p> 
<p>Data showing the whale's XRP movements is limited for now, and the token is generally not impacted by the events. At the time of writing, each XRP token trades at a spot price of $0.8098, up by 4.20% over the past 24 hours and by more than 71% in the trailing week-to-date (WTD) period.</p> 
<p><a href="https://u.today/xrp-trading-now-available-on-major-european-exchange-details" rel="noopener noreferrer nofollow">card</a></p> 
<h2 id="more-upside-for-xrp">More upside for XRP?</h2> 
<p>The victory secured by XRP has far-reaching implications that go beyond the asset itself. While the case is not completely over, there are a number of positive conclusions that being <a href="https://u.today/ripple-ceo-hails-teams-efforts-following-crucial-court-decision" rel="noopener noreferrer nofollow">drawn</a> by Ripple Labs executives, experts and observers in the broader crypto ecosystem.</p> 
<p>One such conclusion is that it is now glaring that XRP is not a security, and irrespective of the volatility headwinds that lie ahead, more firms now have the regulatory clarity to <a href="https://u.today/american-banks-may-tap-xrp-for-cross-border-payments-ripple-clo" rel="noopener noreferrer nofollow">integrate</a> the coin into their business operations across the board.</p>

Massive XRP Whale Withdrawal Observed, Sell-off Incoming?

Table of Contents

U_Today

Other articles published on Jul 20, 2023

Whale Alert: Dormant Wallet Moves $116 Million of Pre-Mined Ethereum After 8 Years

AnalytixInsight Announces Appointment of Vincent Kadar to Board of Directors

SEC Gary Gensler Asked for Additional Funding to Protect Investors Against Crypto Industry

Kuwait’s Central Markets Authority Ban Crypto Activities: Understanding the New Regulations

DeFi — Safer than a Bank

Chainlink’s Impressive Rise: LINK Price Surpasses $8

Join our free newsletter for daily crypto updates!