According to Whale Alert data, 197.8 million XRP was transferred in the last 24 hours. How did Ripple's legal victory against the SEC affect XRP whales? What is Binance's role in this process? What kind of changes could this high trading volume create in the XRP price?
Whale Alert has recorded a noticeable increase in XRP transactions. Four large transactions were detected, totaling 197.8 million XRP. The largest transaction was for 106,406,526 XRP ($61,418,872), accounting for more than half of all XRP movements in the past 24 hours. Two medium-sized transactions saw a total of 68,208,050 XRP deposited from anonymous wallets to Binance. The smallest transaction was a transfer of 23,343,246 XRP from Binance to an anonymous address.
Ripple’s legal victory over the SEC has sparked a huge uproar among XRP investors. The federal judge’s decision to reduce the fine from $2 billion to $125 million has caused a significant increase in XRP’s value, pushing it to seventh place on CoinMarketCap. This development has led to more activity from altcoin whales and a significant increase in trading volume.
Binance played a major role in the recent XRP transfers. Two large transactions involved the deposit of a total of 68,208,050 XRP from anonymous wallets to Binance, while a smaller transaction involved the withdrawal of 23,343,246 XRP from Binance. Binance’s role in these transactions further underscores its importance in the XRP ecosystem. The increased trading volume and whale activity could lead to additional changes in the XRP price, and market participants should monitor the situation closely.
The recent XRP transfers once again reveal the dynamic nature of the cryptocurrency market. As Ripple’s legal success continues to impact the XRP ecosystem, it is of great importance for market participants to constantly follow developments and adapt to changing conditions.
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