Multi-million XRP chunk has been withdrawn from Binance after XRP price provided good opportunity for it
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This happened when the XRP price undertook an attempt to surge and pare its recent losses suffered on the market.and landing in an unknown wallet, which may certainly look like accumulation amid a favorable XRP price opportunity. However, data disclosed by XRP explorer Bithomp shows that the receiving address also belongs to Binance. Therefore, rather than a purchase and a withdrawal, this now becomes Binance reshuffling its XRP holdings and moving them to separate wallet.
Curiously, the second major cryptocurrency transfer, which carried 100,000,000 XRP from one anonymous wallet to another, was also made between two wallets linked to Binance. Thus, it was this exchange that made both transactions mentioned above, which carried 127,525,205 XRP cumulatively. This amount of crypto is estimated at $68,000,000 in fiat.
Since last Friday, the seventh largest cryptocurrency has spiked, staging an increase of 12.64% and soaring from the $0.4774 to the $0.5573 level. However, the impressive rise was followed by a decline of slightly less than 1%.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects.
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