Massive Transfers: 88,000,000 XRP Flow In and Out of Binance and Coinbase

Blockchain tracker Whale Alert reports XRP whales moved over $88M in XRP to Coinbase and from Binance to unknown wallets amid a slight market decline.

In a financial maneuver monitored by blockchain enthusiasts, XRP whales have conducted a series of high-value transactions, prompting speculation about their next strategic moves.

These movements, captured by the blockchain tracking service Whale Alert, involved over $88 million in XRP, comprising transfers to Coinbase and movements from Binance to unknown wallets. This flurry of activity comes despite a slight decline of 0.57% in XRPs market value over the past 24 hours.

Massive Transfers to Coinbase

According to the whale alert report, multiple high-value transactions were recorded from unknown wallets to Coinbase, the first involving 39,401,162 XRP valued at approximately $20,712,323. The sender, identified by the wallet address “rnnXxL5TQV…11Z5ZKaAN5,” transferred the funds to a receiver at Coinbase with the address “rUjfTQpvBr…GG76nvp8Ln.”

This transaction, which took place three hours ago, was quickly followed by a similar high-value transfer involving 39,635,128 XRP, valued at $20,835,314. The funds were sent from an unknown wallet (rEUiR8963k…oMqtxzmzWP) to Coinbase, with the receiving wallet being the same as the previous transfer. This suggests a coordinated effort by the whale involved.

On the same accord, the series of large transfers continued with 39,564,579 XRP, worth $20,798,228, moved from another unknown wallet (rGL7E9s5Gs…qp51eXJ2pj) to Coinbase. The receiving wallet, again, matched those of the earlier transactions.

Transfers from Binance to Unknown Wallets

In addition to the transfers to Coinbase, there were notable movements from Binance to unknown wallets. One notable transfer involved 25,371,334 XRP, valued at about $13,365,853. This transaction was initiated from Binances wallet, identified as rDAE53VfMv…Qxfht6JPxr, and sent to an unknown wallet address, rarG6FaeYh…gFsPn2bZKk.

Another major transaction saw 24,887,349 XRP, worth approximately $13,076,779, moved from Binance to another unknown wallet. The sender‘s wallet address was the same Binance wallet used in the previous transaction, while the receiver’s address was rfQ9EcLkU6…eN47Rk8Cvi.

XRP Technical Indicators

The XRP market is presently displaying signs of consolidation with low volatility, as evidenced by the MACD indicator trending just below the zero line at -0.00084 on the one-day chart. This positioning suggests a phase of trader indecision and hints at a possible breakout in either direction.

XRP Technical Indicators Source Tradingview

Further supporting this observation, the MACDs histogram shows bars flattening along the zero line, indicating a lack of market momentum. Simultaneously, the RSI indicator is positioned in the neutral zone at 49.91, reinforcing the absence of a clear market trend.

Since the RSI is neither overbought nor oversold territory, it confirms that the market is in a state of balance without any dominant buying or selling pressure.