Previously, a mysterious transfer of more than $11 million worth of XRP which valued 18.91 million coins from major crypto exchange Binance to an unidentified wallet was reported by blockchain tracker WhaleAlert. A similar occurrence was again reported recently which saw transfers from Binance in various stashes in the amount of over 18 million XRP each. The mysterious transfers of XRP 
Yesterday, there were reportedly four transactions recorded by Whale Alert in the last 24 hours, all involving the transfer of XRP from Binance to an unknown wallet. The amounts include 18,766,680 XRP worth $11,726,748 and another 18,355,225 XRP worth $11,456,033 at that time.
Additionally, 18,433,282 XRP worth $11,511,574 and 18,460,720 XRP worth $11,452,880 were transferred, as per reports. The <a href="https://news.todayq.com/over-411-million-xrp-bought-from-binance-amid-price-correction/" target="_blank" rel="noopener noreferrer nofollow">sixth largest crypto by market capitalisation</a> is currently experiencing minor dips. As of press time XRP is changing hands at $0.6097, showing a slight decrease of 2.35% over the last day and a 2.93% plunge over the past week.
It all started on Friday with the observations of substantial XRP transfers from Binance to unknown wallets reported by the crypto actions tracker. There was a lot of speculation about the reasons behind these big transfers, which totaled more than 18 million XRP.
🚨 18,766,680
Although the identities behind the receiving addresses remain anonymous, their huge size and coordination do infact suggest strategic intent. Possible reasons and speculations&nbsp; 
While the exact reason behind the movement of XRP from Binance to these stashes remains unknown, several theories have emerged.
A strategic move by Binance to redistribute its reserves may have led to the transfer of XRP from the exchange to unknown addresses. Liquidity management or wallet maintenance could be responsible for this.
It is also possible that a large investor or group of investors is strategically accumulating XRP for long-term appreciation. Potential partnerships may enhance the utility and value of XRP, as well as future XRP <a href="https://news.todayq.com/xrp-ledger-amm-upgrade-closes-in-whales-move-155m-xrp/" target="_blank" rel="noopener noreferrer nofollow">Ledger features</a> like the AMM.
In any case, XRP ecosystem participants and observers will continue to watch developments closely for clues and insights into the intentions behind these transactions whether they indicate whale activity, strategic accumulation, or exchange reserves.
Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com

Over 18M XRP transfer from Binance spark speculation, what’s happening?

Todayq News

Other articles published on Mar 11, 2024

Introducing Tiger King Coin: All You Need To Know About TKING Coin

Spain’s High Court Upholds Ban on Worldcoin’s Iris-Scanning Initiative

BlackRock’s Bitcoin ETF Now Holds More BTC Than MicroStrategy

Critical Bitcoin and Etrheruem Move from London Stock Exchange!

Starknet Foundation creates Game Committee to attract developers

Explore the Utility and Purchase Methods of Theta Fuel (TFUEL)

Join our free newsletter for daily crypto updates!