69,300,000 XRP hits Binance, here’s what’s happening

On December 17, 2024By Littum

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Popular crypto tracking service Whale Alert, which tracks large cryptocurrency transfers and shares the details of its account on the X platform (formerly known as Twitter), has seen a huge XRP transfer worth nearly $200 million in fiat.

This transfer targeted the world’s largest centralized crypto exchange by volume, Binance, and it took place amid the fourth largest crypto, XRP, posting a significant price increase of 9.33% since Monday. At the time of writing, XRP is changing hands at $2.57.

Binance hit with 69.3 million XRP transfers

Data shared by the aforementioned source revealed that less than two hours ago, an anonymous whale transferred a total of 69,300,000 XRP to the Binance exchange. This amount of XRP was valued at $175,875,867 at the time the transfer was launched.

The community was curious about the nature of this transfer and the wallet it was initiated by. Opinions differed widely – while some said it was a sign of an upcoming XRP pump, others said a deposit likely meant an upcoming sell-off.

XRP-focused analytics platform Bithomp shared that this was an internal transaction after all, as the anonymous wallet that moved the funds belonged to Binance.

On Monday, the same analytics platform reported that a staggering 800,000,000 XRP and 120,000,000 XRP withdrawals were made from Binance – batches of crypto worth $1,927,321,529 and $283,017,799. However, Bithomp also shared data proving that these payouts were made to Binance-linked wallets as the top crypto exchange reshuffled its XRP holdings and moved some of them to new wallets.

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Ripple Reveals RLUSD Launch Date

As reported by U.Today, San Francisco-based blockchain behemoth Ripple has finally announced the launch date of their new product – Ripple USD stablecoin (RLUSD).

The asset will be rolled out on December 17th, and soon after it will be available on cryptocurrency exchanges for trading. According to Ripple, one of the exchanges that will list the new asset will be Bitstamp.

Last week, Ripple CEO Brad Garlinghouse boasted that RLUSD had received final approval from the New York State Department of Financial Services (NYDFS). On Friday, as covered by U.Today, Ripple Treasury minted 13 million RLUSD coins ahead of the stablecoin’s official release.