27.5 million XRP leave Binance, 100 million XRP change hands
A total of 27,525,205 XRP were noticed leaving the Binance exchange and landing in an unknown wallet, which may certainly look like accumulation amid a favorable XRP price opportunity. However, data disclosed by XRP explorer Bithomp shows that the receiving address also belongs to Binance. Therefore, rather than a purchase and a withdrawal, this now becomes Binance reshuffling its XRP holdings and moving them to separate wallet.
Curiously, the second major cryptocurrency transfer, which carried 100,000,000 XRP from one anonymous wallet to another, was also made between two wallets linked to Binance.
XRP price performance
Since last Friday, the seventh largest cryptocurrency has spiked, staging an increase of 12.64% and soaring from the $0.4774 to the $0.5573 level. However, the impressive rise was followed by a decline of slightly less than 1%.
At the time of this writing, XRP is changing hands at $0.5333.
