Binance Moves 63 Million XRP as Price Recovers

By Sunil Gavhane

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Binance Moves 63 Million XRP as Price Recovers

Binance Moves 63 Million XRP as Price Recovers: Binance transferred a lot of XRP between its accounts early Tuesday. This could mean that more people want XRP as its price starts to go up again.

On Tuesday at about 6:40 in the morning UTC, Binance transferred large amounts of XRP within its accounts. They moved 20.6 million XRP (worth $10.9 million), 21.2 million XRP (worth $11.2 million), and 22.5 million XRP (worth $11.9 million).

Whale Alert, a tool that tracks big blockchain transactions, reported that funds moved from Binance to some unknown digital wallets. But after looking more into it, it was found that Binance was the one who set up the XRP wallets that got the money.

Starting on January 3, the wallet addresses were used by Binance as main wallets to handle customer needs for XRP.

A record of users sending money from it to different trading sites like Bybit, Bitso, and Upbit. They also send money to the payment service Payeer and the betting website

Some of these trades are within the same place, while others move to special secure addresses for keeping as long-term investments.

On-chain transparency makes it easier to trust cryptocurrency exchanges because it lets users see how funds move, unlike in traditional financial systems where it’s hard to see what’s happening with the money.

Binance, and many other exchanges, provide reports showing that customer money is safe, no matter the market situation.

XRP Begins Recovery

It’s also important to mention that Binance’s big XRP moves happened as XRP started to bounce back from its latest low points.

XRP’s performance might not exactly match the overall crypto market, but people who have invested in it have more reasons to feel optimistic than worried.

Last week, XRP’s value went up more than 5.5%, moving from $0.4989 to $0.53. This slow increase might be the start of a big rise in its price that many experts are expecting.

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

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