295 Million XRP Coins Sent To Binance Wallet, According To WhaleAlert Crypto Whale Tracker

JAKARTA - Massive crypto owner movement tracker WhaleAlert recently reported that around 295,500,011 XRP was sent to crypto exchange Binance. Although the movement of the owner of the most coins can be tracked, it is not yet known who owns it.

WhaleAlert announced that XRP coins had been shipped via its official Twitter post. Those hundreds of millions of XRP were apparently transferred from a private crypto wallet to a wallet belonging to the world's largest crypto exchange by trading volume, Binance.

The crypto whale tracker explained the delivery occurred at 12:39 UTC (around 7 p.m. WIB) when the transaction was made. The hundreds of millions of XRP mentioned above are worth 110.6 million US dollars. Delivery is made in one transaction.

🚨 🚨 🚨 295,500,011 #XRP (110,601,869 USD) transferred from unknown wallet to #Binancehttps://t.co/vg9eyoj2v9

— Whale Alert (@whale_alert) August 17, 2022

According to a CryptoSlate report, this kind of transaction usually indicates that the owner of the XRP coin transferred funds to Binance for sale. It is worth mentioning that the amount of XRP in transactions is nothing compared to the volume of XRP traded on various exchanges in the last 24 hours.

According to data from Coingecko, XRP has a 24-hour trading volume of around 1.38 billion US dollars. That way, the price of XRP won't be affected in any way. At the time of writing, XRP is trading at IDR 5,579.

Meanwhile, apart from the 295.5 million XRP sent to Binance, Whale Alert observed the movement of large Ripple coins between exchanges and crypto wallets in the last 24 hours.

Prior to this massive shipment, Whale Alert reported 30 million XRP ($11.29 million) was sent from an unknown wallet to the Bitstamp crypto exchange, then another 31,769,271 XRP was transferred to an unnamed wallet from the FTX crypto exchange.

Then there have been transfers of 44.98 million XRP flowing from Binance to unknown wallets, while 30 million Ripple coins have been sent to the Bitso crypto exchange.

On the other hand, a few days ago Ripple announced a partnership with Japanese remittance company SBI Remit. Later, Ripple will facilitate real-time remittances from Japan to Thailand. Delivery only takes a few seconds.