BREAKING: Ripple Moves XRP to Binance After $59M Subwallet Transfer
Highlights
- Ripple moves 50,000 XRP worth $59 million to its subwallet, as per Whale Alert.
- On-chain data revealed multiple transfers to Binance from Ripple subwallets.
- XRP price bounces more than 2% amid inflows into spot ETFs and upcoming XRPL upgrade
In major XRP news today, Ripple moved a significant amount of XRP coins to Binance crypto exchange. On-chain transaction data revealed a transfer to Ripple subwallet, followed by further transfers to Binance subwallets. This comes amid the latest 12% recovery in XRP price.
Ripple Moves Some XRP to Binance, Sparking Jitters
Whale Alert flagged a major XRP transfer that highlighted Ripple moving 50 million XRP worth over $59. This sparked massive speculation within the XRP community about a potential selling.
On-chain analysis on XRPScan revealed Ripple (50) wallet moved XRP to its subwallet raRVLN1. This indicates it is an internal transfer.
However, shortly after the inflow, the same wallet began distributing funds in large chunks, primarily 2,000,000 XRP per transaction, to two addresses rBNCyN and rnPpiy. These two wallets are associated with Binance crypto exchange.
On-chain data from XRPScan showed the Ripple subwallet executed multiple XRP transfers to these Binance-associated wallets. This is likely a Ripple operational liquidity hub used for on-demand liquidity (ODL) purposes.
Will XRP Price Witness Further Pullback or Rally?
XRP price continues upside momentum amid renewed inflows into spot ETFs and Ripple’s push for XRP Ledger upgrades. The price rebounded more than 12% since hitting $1.05 last week.
XRP is trading more than 2% higher at $1.16 today. The 24-hour low and high are $1.14 and $1.18, respectively. However, trading volume has increased slightly by 4% over the last 24 hours, indicating traders remain cautious ahead of Wednesday’s US CPI inflation report.
The world’s highest IQ record holder YoungHoon Kim claimed XRP has entered the next bull market phase. This has sparked speculation within the community for a potential rebound to $1.20.
Moreover, analyst Ali Martinez shared a monthly chart to show the year-long support trendline. He pointed out that $0.90 is the price to closely watch for making maximum returns.
$XRP has repeated the same pattern for 8 years…
And it might be about to do it again. https://t.co/aFHyt1Wdo1 pic.twitter.com/rIC8oMXBU1
— Ali Charts (@alicharts) June 9, 2026
If you’re looking to do in-depth research before deciding to invest in crypto, check out our recommendations for the best crypto tools for research and analysis.
Instant Currency Exchange at BestChange with Ease
- Compare Rates Across 1000+ Exchanges
- Access 250+ Cryptocurrencies & Pairs
- Save Time with Real-Time Price Tracking
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
