A large amount of XRP tokens have moved in the last 24 hours and many people are wondering what the purpose of this is. 🤔 In total, more than $70 million of XRP moved, some of it originating from known Binance addresses. In the first transaction, 28,218,783 XRP worth approximately $13.5 million was transferred from Binance. In the second transaction, 26,234,427 XRP worth approximately $12.4 million was transferred from the exchange.

In the last transaction, 30,820,000 XRP worth approximately $14.9 million moved from an unknown wallet. These three transactions were flagged by the popular bot Whale Alert on X. 🐳 So, where did all this XRP go? The first two transactions sent a total of approximately 54 million tokens to two addresses previously activated by Binance itself. Therefore, it is very likely that this is an internal operation, perhaps initiated for security reasons.

It's entirely possible that Binance is moving funds to cold storage or different addresses following its security protocol. The third transaction – worth almost $15 million – was made from an account previously activated by Ripple in 2022. This transaction was sent to the cryptocurrency exchange Bitstamp. This is standard procedure. For years, Ripple has been sending XRP to Bitstamp and other cryptocurrency exchanges for liquefaction. So, nothing unusual here and it doesn't seem to be a cause for concern.