Due to certain documented whale transfers over the last 24 hours, XRP is in the news. A solitary whale transferred 25,419,259 XRP, or around $13,335,299, from the Binance exchange to an unidentified wallet, according to data from the crypto analytics tracker Whale Alert.
XRP liquidity concerns
On the list of the top 10 most capitalised digital currencies, XRP is among the most contentious. This is due, in part, to the fact that its price has been comparatively stable despite its active community, high trading volume, and whale behaviours.
It’s possible that the whale who moved these 25 million XRP from Binance are strengthening their holdings in the cryptocurrency. Purchasing XRP may make sense given that it has been forming an unprofitable resistance point near the $0.6 mark for a few weeks, even though it is difficult to determine what the true strategy is.
Bithomp Explorer data indicates that the whale in issue is not a recent addition to the XRP ecosystem. Since its activation on Binance in November 2024, the whale account has been involved in a number of XRP transactions.
Transfers from Binance might be a good indication, but the whale is known to constantly direct XRP towards other exchanges, which could potentially be a route for a sell-off. The whale’s balance as of right now is 59.328 million.
https://x.com/whale_alert/status/1798988391142621493
XRP price action
The reason the XRP whale is buying with the $13 million money shift might be that the coin is now selling for a significant discount. As a result, anticipations for more frequent XRP buy-ups are growing, as shown in the previous several days.
As of this writing, XRP is trading at $0.5273, up 0.15% over the previous day to highlight the whale rally. This one, along with others seen over the last few days, may be contributing to the much-needed surge the coin is now experiencing.
