XRP whales in spotlight following massive 563,571 $XRP token move XRPHolders XRPArmy XRPCommunity
Lookonchain reports that an XRP whale recently moved 563,571 XRP tokens worth $462,000 from the Binance crypto exchange.
The on-chain analytics platform noted that the whale has withdrawn a total of two million XRP worth $1.66 million from Binance. The whale has netted an unrealized profit of about $640,000 at an average withdrawal price of $0.51.why tokens are removed from exchanges; one might be to sell them. While this seems to be the likely reason for the move, other factors cannot be completely ruled out.
The reason might be to move it into cold storage, which stems from an intention to hold the cryptocurrency for a long period in hopes that the price might further increase. According to a screenshot from Lookonchain, the XRP tokens were transferred from a hot wallet. As reported, Lookonchain recently provided insight into the buying and selling activity of four XRP whales on the Binance Smart Chain , hinting at the potential for increased selling activity., XRP has continued to get attention. In the wake of the Ripple v. SEC verdict, crypto research firm Kaiko recently observed that crypto open interest, particularly that of XRP, was rising faster than BTC.
Additionally, XRP outperformed Bitcoin, claiming 21% of the entire crypto volume as trading volume surpassed $25 billion in just four days, which is the biggest level in the previous 18 months.
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