XRP Whales on the Move: 33M Coins Transferred to Binance as Price Drops

• 33 million XRP valued at $19.73 million transferred to Binance.
• This follows a series of earlier movements from exchanges.
• Market speculation grows as XRP experiences significant transfers.

A significant transfer of 33 million XRP, worth roughly $19.73 million, happened on the XRP Ledger earlier today, occurring at the same time as an ongoing correction in XRP’s price. Blockchain transaction monitoring service Whale Alert flagged the transfer in an X post.

33,000,000 #XRP (19,734,848 USD) transferred from unknown wallet to #Binancehttps://t.co/FYFeDRTOuq

— Whale Alert (@whale_alert) August 21, 2024

The transfer, which took place at 07:04:02 UTC, moved the substantial amount from an unknown wallet to Binance, the world’s largest cryptocurrency exchange. This transaction is the latest in a series of large XRP movements that caught investors’ attention since this month.

The reason for the transfer remains a mystery, leaving market watchers to wonder whether the move was intended for immediate trading or other strategic reasons. This comes after a string of large XRP movements in August.

Previously, 25 million XRP, valued at $15 million, was transfe…

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