2024

Million

Stash

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a significant development within the cryptocurrency market, a massive 51 million <a href="https://u.today/xrp-stash-sold-on-bitstamp-crypto-exchange-at-loss-details" rel="noopener noreferrer nofollow">XRP stash</a> was recently shifted from the Binance exchange. This large transaction underscores the ongoing activities of crypto whales, entities or individuals who hold substantial amounts of a specific cryptocurrency.
The 51 million XRP transfer, valued at approximately $25 million based on current market prices, was detected by blockchain tracking services. The single transaction saw XRP move from Binance to an unknown wallet.
<blockquote>
 🚨 🚨 51,627,816 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (25,261,186 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> to unknown wallet<a href="https://t.co/EDkG5NA2Ab" rel="noopener noreferrer nofollow">https://t.co/EDkG5NA2Ab</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1804137308037243034?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 21, 2024</a>
</blockquote>
According to <a href="https://x.com/whale_alert/status/1804137308037243034" rel="noopener noreferrer nofollow">WhaleAlert</a> data, 51,627,816 XRP worth $25,261,186 were transferred from Binance to an unknown wallet. This move is part of a broader pattern of whale activity that has been stirring the XRP market.
Whale Alert reports another major XRP transaction, which saw a 26 million XRP stash shifted from Binance: "26,247,981 XRP worth $12,821,456 was transferred from Binance to unknown wallet."
Whales moving large amounts of XRP off of exchanges like Binance could indicate a range of sentiment. They might be preparing to hold their assets in cold storage for potential long-term holding, suggesting bullish sentiment. Conversely, it might suggest neutral sentiment as the move might be a mere funds reshuffling.
At the time of writing, <a href="https://u.today/xrp-attracts-12-million-inflow-amid-altcoin-market-doldrums" rel="noopener noreferrer nofollow">XRP</a> was down 0.44% in the last 24 hours, to $0.48. For several days, XRP has traded between the 50-day SMA at $0.51 and the key support at $0.46.
The crucial level to watch for on the downside is $0.46. If this level gives way, XRP might fall to the critical level of $0.41. Bulls are predicted to buy in the range of $0.46 to $0.41.
Bulls are attempting to push the price above the $0.50 mark, and if they succeed, the probability of a break above the 50-day SMA improves. XRP might then rise to $0.57.

Massive 51 Million XRP Stash Shifted From Binance as Whales Intensify Moves

U_Today

Other articles published on Jun 22, 2024

Analyst Highlights Challenges and Strategies for Altcoin Market in 2024

PEPE’s correlation with Ethereum might play out THIS way for the memecoin

Best Crypto Presale in June 2024 – MoonBag’s Lunar Ascent with 20% Liquidity Rattle Out BitBot, P...

21 Million Chainlink Worth $295M Unlocked From Its Non-Circulating Supply

Sleeping Giant Cryptos with Skyrocketing Potential That Could Make Up to 50X When No One Expects

Billionaire Cryptos: 4 with Unicorn Potential

Join our free newsletter for daily crypto updates!