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An anonymous wallet has transferred 20 million XRP, valued at approximately $12.2 million, to the Bybit exchange. This substantial <a href="https://whale-alert.io/transaction/ripple/87F03E05612C15DD0BDE4F85EEA34BED23EFA9E8554FF795F9EC45B9B3DA7E5C" rel="noopener noreferrer nofollow">transaction</a> has ignited a wave of speculation across the XRP community, with many pondering the rationale behind this move.
Cryptocurrency analysts are closely watching the effects of this <a href="https://coingape.com/xrp-whales-shift-70-mln-tokens-xrp-price-nears-0-63-rally-to-continue/" rel="noopener noreferrer nofollow">transfer</a> on the XRP market. Large-scale transactions like these often lead to concerns about potential market manipulation. The anonymity of the wallet’s owner adds another layer to the intrigue, leaving stakeholders and observers in a state of heightened curiosity and caution.
<h2 id="xrp-s-current-market-standing">XRP’s Current Market Standing</h2>
XRP’s recent performance in the market has been modest, with a slight 0.42% increase over the past month. The current <a href="https://coingape.com/price/xrp/" rel="noopener noreferrer nofollow">trading price</a> of XRP is $0.6159, a minor dip of 0.46% in the last 24 hours. This trend mirrors the broader cryptocurrency market, where XRP has faced significant resistance and <a href="https://coingape.com/xrp-whale-moves-45-mln-xrp-as-price-plunges-whats-happening/" rel="noopener noreferrer nofollow">struggled</a> to build momentum, in contrast to some of its peers.
However, the market capitalization and 24-hour trading volume fell by 0.89% and 38.64%, respectively, to $33,421,740,393 and $873,240,889, showing falling investor interest. If the bullish momentum overcomes the negative trend and breaks through the intra-day high of $0.6258, the psychological level of $0.65 will be the next milestone.&nbsp;
<img decoding="async" class="aligncenter wp-image-170966" src="https://coingape.com/wp-content/uploads/2023/12/Screenshot-2023-12-23T180342.977.png" alt="" width="585" height="385" srcset="https://coingape.com/wp-content/uploads/2023/12/Screenshot-2023-12-23T180342.977.png 697w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-2023-12-23T180342.977-300x198.png 300w, https://coingape.com/wp-content/uploads/2023/12/Screenshot-2023-12-23T180342.977-150x99.png 150w" sizes="(max-width: 585px) 100vw, 585px">
XRP/USD price chart
This level has historically been a powerful barrier to the price movement of XRP, and a successful break above it might draw more buyers and push the price higher.
<h2 id="binance-s-recent-delisting-adding-to-the-crypto-dynamics">Binance’s Recent Delisting Adding to the Crypto Dynamics</h2>
In related news, Binance, a leading global cryptocurrency exchange, has <a href="https://coingape.com/binance-delists-sol-xrp-ada-doge-top-crypto-in-gbp-spot-pairs/" rel="noopener noreferrer nofollow">announced</a> delisting of several spot trading pairs linked to the British Pound, including XRP. This decision, set to take effect on December 29, adds another dimension to the evolving crypto narrative, compelling the community to pay closer attention to the market’s movements.
Read Also: <a href="https://coingape.com/shiba-inu-leader-envisions-99-9-token-burn-as-achievable-goal/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Shiba Inu Leader Envisions 99.9% Token Burn as Achievable Goal</a>
The post <a href="https://coingape.com/xrp-price-drops-amid-mystery-wallet-activity-and-binance-delisting/" rel="noopener noreferrer nofollow">XRP Drops Amid Mystery Wallet Activity and Binance Delisting</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Drops Amid Mystery Wallet Activity and Binance Delisting

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