Large Transactions Spotted
XRP whales have been making significant withdrawals from the Binance exchange. These transactions are often associated with large investors who can influence the asset’s price.
Exchange Outflows
Two of the whale transactions involved withdrawals from Binance. One was for 26,440,906 XRP ($13.2 million), and the other was for 30,406,274 XRP ($15 million). These outflows indicate that investors are moving their XRP out of exchanges, which can be a bullish sign.
Exchange Inflow
However, there was also an exchange inflow of 30,320,000 XRP ($15 million) to the Bitstamp platform. This inflow suggests that some investors are transferring their XRP to exchanges, which can be a bearish sign.
Net Outflow
Despite the inflow, the net amount of XRP has still left exchanges over the past day. This suggests that overall, investors are withdrawing their XRP from exchanges.
XRP Price
The recent whale withdrawals have not had a significant impact on the XRP price, which has dropped around 4% in the past week to $0.50.
