Massive Ripple (XRP) transfer scares: Profit sales may come!

#Ripple ($XRP ), which has increased along with the rise in #Bitcoin , has caused concern with the whale transfer.

Onchain data platform Whale Alert attracted attention with a huge $XRP transfer sharing. Approximately $200 million worth of XRP was transferred to the crypto exchange Binance. Following this development, there was a 9 percent increase in the price of the popular altcoin. It came to mind that the whale could make this transfer for profit sales.

According to the data shared by Whale Alert, an unidentified whale transferred a total of 69,300,000 XRP to the Binance exchange about two hours ago. The value of this amount was calculated as $175,875,867 at the time the transfer took place. While the community wondered about the reason for this huge transfer, different interpretations were put forward. While some investors stated that the whale was preparing for a sharp rise, other investors evaluated this move as profit sales.

Ripple-focused analytics platform Bithomp confirmed that this transfer was actually an internal transaction between wallets belonging to Binance. The platform also reported that 800 million and 120 million #XRP were withdrawn from #Binance on Monday. These amounts were worth $1.9 billion and $283 million, respectively.

As of the writing of the news, XRP, which changed hands at $2.66, has increased by 11.38 percent in the last 24 hours. With this rise, it has surpassed the market value of $150 billion. Despite the increase in Bitcoin dominance, the rising major coin has given hope for the upcoming bull season. The bull run in Ripple may accelerate with the positive onchain data. In such a scenario, a movement towards $3 can be expected.