$124M XRP Transfer to Binance Sparks Crypto Frenzy!

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Notable cryptocurrency monitoring platform Whale Alert, known for tracking significant transactions and broadcasting the information on its website and Twitter (@whale_alert), has identified a substantial quantity of Ripple (XRP) being transferred to top global exchange Binance.

Currently, it’s worth noting that XRP, the digital currency ranking third by market cap, has seen a substantial increase of over 12% in value.

40,000,000 XRP shoveled to Binance

Approximately four hours ago, a massive deposit of 40 million XRP, worth approximately $124.79 million, was made to Binance. This transfer originated from an unidentified blockchain address.

The crypto community responded vigorously, with multiple remarks posted beneath the tweet. Several individuals view this significant XRP transaction as a positive indicator.

🚨 🚨 🚨 🚨 🚨 40,000,000 #XRP (124,788,255 USD) transferred from unknown wallet to #Binance

— Whale Alert (@whale_alert) January 20, 2025

According to data from XRP-focused explorer Bithomp, it’s likely that the anonymous wallet involved in the XRP transfer is connected to the Binance exchange. This suggests a strong possibility that this transaction was simply an internal movement of Binance’s XRP holdings as they reorganized their XRP assets and distributed them among new wallets.

XRP soars, following Bitcoin‘s new ATH

Currently, on January 20th, which happens to be Monday, the XRP price has experienced an impressive surge. This jump exceeded 12%. Initially, the third largest cryptocurrency climbed from approximately $2.92 to $3.29. At present, its value has dipped slightly and is being traded at around $3.25.

Following a 9.21% drop in XRP on Sunday, there was a significant price surge. Today, similar to other cryptocurrencies, XRP’s trend mirrored that of Bitcoin. Just two hours ago, Bitcoin hit an unprecedented new peak of $109,114, which it has reached.

Ripple CTO reacts to Gensler leaving SEC

Over the weekend, Ripple’s Chief Technology Officer (CTO), David Schwartz, weighed in on Gary Gensler’s departure from the U.S. Securities and Exchange Commission (SEC) on Friday. In response to a tweet from an XRP supporter, who questioned whether the crypto community should anticipate a new adversary in the realm of cryptocurrency now that Gensler is no longer with the SEC, Schwartz offered his perspective.

Schwartz stated that it’s not guaranteed that a new adversary of cryptocurrency will emerge, and if such a threat doesn’t materialize, there might be internal conflicts among crypto enthusiasts. However, Ripple’s CTO urged the XRP community to conserve their energy for potential future battles against new threats rather than engaging in disputes among themselves.

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2025-01-20 12:36