{"id":575071,"date":"2024-02-14T14:30:37","date_gmt":"2024-02-14T14:30:37","guid":{"rendered":"https:\/\/uniquehot.com\/?p=575071"},"modified":"2024-02-14T12:17:18","modified_gmt":"2024-02-14T12:17:18","slug":"binance-stirs-the-waters-with-a-200-million-xrp-transfer-whats-the-plan","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/binance-stirs-the-waters-with-a-200-million-xrp-transfer-whats-the-plan\/","title":{"rendered":"Binance Stirs The Waters With A 200 Million XRP Transfer – What’s The Plan?"},"content":{"rendered":"

Cryptocurrency exchange giant Binance made a bit of a headline by transferring a substantial amount of XRP tokens\u2014200 million to be exact. The massive amount of the transfer has made nearly everyone in the crypto community come up with guesses as XRP tallied notable 4% increase in value following the transfer, which added an extra layer of intrigue to the situation.<\/p>\n

Related Reading: Are We Headed For Another $69K? Bitcoin Price Surges As Greed Dominates Crypto Market<\/a><\/div>\n

The recent struggles of XRP, reflected in its monthly losses and declining network fundamentals, have created an air of uncertainty around the coin. Santiment data analyzed by NewsBTC indicates a steady drop in daily active addresses and a decrease in the rate of new address creation over the past month. Additionally, XRP\u2019s supply in profit has seen a sharp decline since the beginning of the year.<\/p>\n

\"\"Source: Santiment<\/pre>\n

Whale Alert Detects Binance XRP Movement<\/strong><\/h2>\n

Investors\u2019 pessimism about the payment-linked cryptocurrency has been further accentuated by the lack of profitability, evident in the consistently negative Weighted Sentiment for XRP in 2024. As the crypto market evolves, these factors contribute to the dynamic landscape and impact the sentiments of investors and market participants.<\/p>\n

\n

\ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 200,000,000 #XRP<\/a> (105,914,024 USD) transferred from #Binance<\/a> to unknown wallethttps:\/\/t.co\/H8wJxoRtvA<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) February 13, 2024<\/a><\/p><\/blockquote>\n

One platform that tracks high-value transactions, Whale Alert, made the flow of XRP tokens visible. At around 6:40 am UTC, Binance started three different transactions totaling 64.41 million XRPs. Trade observers took notice of the subsequent large transfer of 200 million XRP to a “unknown wallet.”<\/p>\n

The 200 million token transfer represents almost $105 million at the current XRP selling price, highlighting the importance of this operation. After more research, we discovered that the beneficiary address of the $200 million transfer quickly transferred $4.28 million in XRP to a different address.<\/p>\n

<\/div>\n
XRP market cap currently at $29 billion. Chart: TradingView.com<\/a><\/pre>\n

XRP Price Trades Higher After Binance Transfer<\/strong><\/h2>\n

The real intent of these moves is still unknown at this point. But the cryptocurrency community has been quick to conjecture, with conversations centered on the potential for whale buildup. The transfers’ timing, which coincided with an increase in XRP’s price, has fueled conjecture even more.<\/p>\n

With a respectable rise in value today, XRP, which had been in a protracted downturn, saw some hope. Notably, it traded at $0.53, increasing in value over the previous day and week to 0.6% and 4.1%, respectively, according to Coingecko data.<\/p>\n

It’s possible that the enthusiasm surrounding XRP’s positive turnaround spurred major market participants\u2014also known as “whales”\u2014to take big action.<\/p>\n

Related Reading: Solana Surges: Open Interest Hits $1.75 Billion, Price Up 8% Today<\/a><\/p>\n

Featured image from Freepik, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency exchange giant Binance made a bit of a headline by transferring a substantial amount of XRP tokens\u2014200 million to be exact. The massive amount of the transfer has made nearly everyone in the crypto community come up with guesses as XRP tallied notable 4% increase in value following the transfer, which added an extra layer of intrigue to the situation. Related Reading: Are We Headed For Another $69K? Bitcoin Price Surges As Greed Dominates Crypto Market The recent struggles of XRP, reflected in its monthly losses and declining network fundamentals, have created an air of uncertainty around the coin. Santiment data analyzed by NewsBTC indicates a steady drop in daily active addresses and a decrease in the rate of new address creation over the past month. Additionally, XRP\u2019s supply in profit has seen a sharp decline since the beginning of the year. Source: Santiment Whale Alert Detects Binance XRP Movement Investors\u2019 pessimism about the payment-linked cryptocurrency has been further accentuated by the lack of profitability, evident in the consistently negative Weighted Sentiment for XRP in 2024. As the crypto market evolves, these factors contribute to the dynamic landscape and impact the sentiments of investors and market participants. \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8 200,000,000 #XRP (105,914,024 USD) transferred from #Binance to unknown wallethttps:\/\/t.co\/H8wJxoRtvA \u2014 Whale Alert (@whale_alert) February 13, 2024 One platform that tracks high-value transactions, Whale Alert, made the flow of XRP tokens visible. At around 6:40 am UTC, Binance started three different transactions totaling 64.41 million XRPs. Trade observers took notice of the subsequent large transfer of 200 million XRP to a “unknown wallet.” The 200 million token transfer represents almost $105 million at the current XRP selling price, highlighting the importance of this operation. After more research, we discovered that the beneficiary address of the $200 million transfer quickly transferred $4.28 million in XRP to a different address. XRP market cap currently at $29 billion. Chart: TradingView.com XRP Price Trades Higher After Binance Transfer The real intent of these moves is still unknown at this point. But the cryptocurrency community has been quick to conjecture, with conversations centered on the potential for whale buildup. The transfers’ timing, which coincided with an increase in XRP’s price, has fueled conjecture even more. With a respectable rise in value today, XRP, which had been in a protracted downturn, saw some hope. Notably, it traded at $0.53, increasing in value over the previous day and week to 0.6% and 4.1%, respectively, according to Coingecko data. It’s possible that the enthusiasm surrounding XRP’s positive turnaround spurred major market participants\u2014also known as “whales”\u2014to take big action. Related Reading: Solana Surges: Open Interest Hits $1.75 Billion, Price Up 8% Today Featured image from Freepik, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":575077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,6664,14781,4531],"class_list":["post-575071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-crypto","tag-whales","tag-xrp"],"acf":[],"yoast_head":"\nBinance Stirs The Waters With A 200 Million XRP Transfer<\/title>\n<meta name=\"description\" content=\"Cryptocurrency exchange giant Binance made a bit of a headline by transferring a substantial amount of XRP tokens\u2014200 million to be exact. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Binance Stirs The Waters With A 200 Million XRP Transfer – What’s The Plan?","url":"http:\/\/uniquehot.com\/news\/binance-stirs-the-waters-with-a-200-million-xrp-transfer-whats-the-plan\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/binance-stirs-the-waters-with-a-200-million-xrp-transfer-whats-the-plan\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/a_37fff0.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/a_37fff0.png?fit=1005%2C477"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["binance","crypto","whales","xrp"],"dateCreated":"2024-02-14T14:30:37Z","datePublished":"2024-02-14T14:30:37Z","dateModified":"2024-02-14T14:30:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Binance Stirs The Waters With A 200 Million XRP Transfer – What’s The Plan?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/binance-stirs-the-waters-with-a-200-million-xrp-transfer-whats-the-plan\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/binance-stirs-the-waters-with-a-200-million-xrp-transfer-whats-the-plan\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/a_37fff0.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/a_37fff0.png?fit=1005%2C477\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"binance\",\"crypto\",\"whales\",\"xrp\"],\"dateCreated\":\"2024-02-14T14:30:37Z\",\"datePublished\":\"2024-02-14T14:30:37Z\",\"dateModified\":\"2024-02-14T14:30:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/a_37fff0.png?fit=1005%2C477","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575071"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=575071"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/575077"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=575071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=575071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=575071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}