Binance mysterious big shot withdraws 50 million XRP tokens, what is the market impact?

Recently, a mysterious big shot withdrew 50 million XRP tokens, which is a major move and part of the increase in XRP whale activity in the past 24 hours.

Specifically, 24,887,349 XRP (worth $13,076,779) and 25,371,334 XRP (worth $13,365,853) were transferred respectively.

The identity of the destination wallets of these large transactions is unknown, adding to the mystery of the transactions.

This movement coincides with the XRP price showing signs of rebound. XRP has risen for two consecutive days, rebounding from a low of $0.508 on June 2 to a high of $0.532 today.

However, as of now, XRP has fallen 0.66% in the past 24 hours and encountered resistance when approaching recent highs.

The withdrawal of so many XRPs may indicate that big investors are making strategic adjustments, indicating that the market may change, or it may be part of a larger investment strategy. The specific reasons are not clear at present.

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