XRP Whales Make $28.2 Million Crypto Outflow From Binance

Krutika Adani

Whales Take XRP Off Exchanges

Whales have removed $28.2 million worth of XRP from exchanges in two transactions.

Details of the Transactions

The first transaction consisted of 26.4 million XRP valued at $13.2 million, and the second transaction involved 30.4 million XRP valued at $15 million.

Positive for Future Price

Off-exchange transfers are generally viewed as bullish since they are usually intended for long-term investment.

Price Dropped 4% Despite Outflows

A 4% drop in XRP's price was witnessed over the last week despite the outflows, likely due to market consolidation.

XRP Price Prediction

The price of XRP is predicted to rally, although a slight dip in the short term is expected.