Prominent blockchain tracker Whale Alert, which tracks down large cryptocurrency transfers and shares the details on its website and X handle, has spotted a massive XRP transaction targeting the world’s largest crypto exchange, Binance.
Almost $400 million worth of XRP has been deposited there in a single move. The crypto community was intrigued by that and shared their takes on that crypto transfer in the comments to the tweet.
200 million XRP land on Binance
The aforementioned data source reported that almost two hours ago, it recorded an enormous deposit made to Binance from a blockchain wallet tagged by Whale Alert as “unknown.” The transaction carried a mammoth lump of 200,000,000 XRP worth $355,576,574 in fiat.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 200,000,000 #XRP (355,576,574 USD) transferred from unknown wallet to #Binancehttps://t.co/OwYUCnfUsz
— Whale Alert (@whale_alert) April 7, 2025
This transaction took place after XRP crashed by 16.25% this morning. However, by now, it has rebounded, going up by 8.97%. At press time, XRP is changing hands at $1.76055 per coin.
This transaction sparked a heated discussion in the comments thread as to the nature of this deposit. Some users believe that the anonymous whale is dumping XRP as the market is facing a bloodbath at the moment. Statements like these filled the comment space: “Here’s the dump!” “Big move,” “Sell them all, we’ll buy them!!!” and “They are selling.”
The reality, though, proved to be much more prosaic — Whale Alert also revealed the details of the transaction, which makes it clear that the “anonymous” wallet also belonged to Binance, which makes it an internal transfer as Binance is reshuffling its vast XRP holdings.
