Prominent blockchain tracking service Whale Alert, which monitors large cryptocurrency transfers and shares the details on its website and the official X account, has spotted a tremendous amount of XRP landing on the world’s leading exchange Binance.
Meanwhile, the third largest cryptocurrency by market capitalization, XRP, has experienced an impressive surge that exceeded 12%.
40,000,000 XRP shoveled to Binance
The aforementioned data aggregator shows that less than four hours ago, Binance witnessed an enormous deposit totalling 40,000,000 XRP, valued at an amazing $124,788,255. The transaction was initiated by an unknown blockchain address.
The cryptocurrency community reacted, leaving numerous comments under the tweet. Many have taken this large XRP transfer as a bullish sign.
🚨 🚨 🚨 🚨 🚨 40,000,000 #XRP (124,788,255 USD) transferred from unknown wallet to #Binancehttps://t.co/RP256hHvki
— Whale Alert (@whale_alert) January 20, 2025
However, data shared by the XRP-focused explorer Bithomp shows that the anonymous wallet which made the XRP transfer was linked to the Binance exchange. Therefore, a probability is high that this was merely an internal transfer as Binance reshuffled its XRP holdings and spread them between new wallets.
XRP soars, following Bitcoin’s new ATH
In the meantime, today, on Monday, January 20, the XRP price has demonstrated a staggering jump, soaring by more than 12%. The third biggest cryptocurrency surged from $2.92 to the $3.29 price level. By now, the price has dropped a little and the coin is changing hands at $3.25.
That price spike took place after a 9.21% decline XRP faced on Sunday. However, today, XRP, along with the rest of the cryptocurrency market, followed the trajectory of Bitcoin. The world’s primary crypto skyrocketed to a new all-time high of $109,114 reached two hours ago.
Ripple CTO reacts to Gensler leaving SEC
Over the weekend, Ripple chief technology officer (CTO) David Schwartz commented on Gary Gensler leaving the office of the US Securities and Exchange Commission on Friday. He responded to a tweet of an XRP enthusiast, where the latter asked if the community should expect a new “enemy of crypto” now that Gensler is gone or not.
Schwartz responded that it is not necessarily so and the new “enemy of crypto” may never appear and in that case, crypto fans may start attacking each other. The Ripple CTO cautioned the XRP community from doing that, saying that it is worth saving energy for fighting a new enemy if he ever appears.
