XRP Sees Significant Whale Activity with $1.6 Billion Transferred to Binance
- Large holders transferred approximately 1.6 billion XRP to Binance over the past month, marking the highest inflow since March.
- XRP’s current trading price is $1.33, down nearly 57% year-to-date.
- The market capitalization of XRP stands at about $84.04 billion.
- Inflow activity has increased after declining to lows in May, June, and July.
- Recent spot XRP exchange-traded funds attracted $110.49 million in inflows from August 24-28, the highest for this year.
The influx of XRP into exchanges can increase its short-term tradable supply, although it does not necessarily indicate an intent to sell by large holders. This recent activity contrasts with previous months when transfers were at a two-month low.
With whale inflows reaching a six-month high, the market dynamics around XRP are shifting significantly as evidenced by the substantial transfer of assets and rising ETF interest.(Source)
