Altcoin News

XRP Whales Buy 74 Mln Coins From Binance Sparking Optimism, Rally Imminent?

XRP, a Ripple-backed token, sparked immense curiosity as the token noted phenomenal accumulations from Binance.
Published by
XRP Whales Buy 74 Mln Coins From Binance Sparking Optimism, Rally Imminent?

Highlights

  • XRP whales on buying spree accumulate roughly 74 million coins.
  • These accumulations sparked immense curiosity among traders and investors globally as it surfaced amid the token's potential optimistic run to $1, accompanied by a wave of bullishness showcased by derivatives data.
  • XRP price drops today, although an upward movement may be imminent.

In an intriguing turn of events witnessed recently, XRP, a cryptocurrency backed by Ripple Labs, birthed a tidal wave of speculations across the broader crypto market as it noted 73.81 million coins accumulated from a centralized exchange, nabbing significant attention across the global crypto realm. These transactions, showcasing accumulations worth $45.87 million, piqued the interest of crypto market traders and investors globally as XRP appears to be riding the optimistic wave to potentially reach $1.

Meanwhile, the Ripple-backed token traded in the red as of writing, birthing speculations over the coin’s contrasting price action compared to the accumulations. Derivatives data, however, showcased a bullish sentiment among investors, aligning with the colossal accumulation witnessed, as mentioned above.

Advertisement

XRP Accumulations Mirror Optimism

According to the data revealed by the blockchain tracker Whale Alert, the aforementioned amount was accumulated in four noteworthy whale transactions. Moreover, all these transactions showcased XRP accumulated from Binance, the world’s leading cryptocurrency exchange.

In alignment with this, the first XRP whale transaction recorded 18.40 million coins, worth $11.52 million, accumulated from Binance by an unknown wallet rfQ9EcLkU6…eN47Rk8Cvi. Whereas, the second transaction noted the accumulation of 18.52 million XRP, worth $11.39 million, from the same CEX by the address rarG6FaeYh…gFsPn2bZKk.

Similarly, the third and fourth transactions also illustrated XRP accumulated by Binance. The wallet address rhWj9gaovw…GRbuXFLQkK withdrew 18.46 million XRP, worth $11.45 million, whereas the wallet address rarG6FaeYh…gFsPn2bZKk accumulated 18.43 million XRP, worth $11.51 million, again.

These transactions sparked immense curiosity among crypto market traders and investors globally as they rode a bullish market sentiment wave, showcasing the whales’ confidence in the asset. However, XRP’s price action today appears to have contrasted this sentiment.

Also Read: Ethereum (ETH) Price Rally to $5000 Imminent, No Major Pullback In Sight

Advertisement

XRP Price Drops

As of writing, the XRP price noted a drop of 0.46% over the past 24 hours and is currently trading at $0.6241. Notably, in contrast to today’s fall, pro-XRP lawyer Bill Morgan also took a bullish stance on the Ripple-backed token, proclaiming it to reach a new ATH in 2024. Meanwhile, amid the ripple effect curated by the crypto market bull run sentiment, altcoins appear to be benefiting alongside Bitcoin.

Simultaneously, the derivatives data for the token hints at substantial new money entering the market, accompanied by heightened market activity. Coinglass revealed that the open interest jumped 2.23% as of press time while the volume rose 8.04%. Additionally, a jump in the token’s OI-weighted funding rate added to the bullishness, fueling positive thoughts on XRP’s price action ahead.

As reported by CoinGape Media earlier, a lot of optimism orbiting the token’s potential run to $1 appears to be prevailing within the market. Prominent analysts like Egrag Crypto and Dark Defender recently retained their bullishness on XRP’s potential run to $1. With the aforementioned whale accumulations further weighing in, crypto market enthusiasts expect further bolstered prices ahead, aligning with market sentiments for XRP.

Also Read: USDT & USDC Earn Up To 30% Interest On Compound, Are Big Players Involved?

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says

Bloomberg analyst James Seyffart has shared his thoughts on a potential approval of the pending…

September 29, 2025
  • 24/7 Cryptocurrency News

Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns

Cleveland Federal Reserve President Beth Hammack has advocated for a restrictive monetary policy amid growing…

September 29, 2025
  • 24/7 Cryptocurrency News

Fed Governor Chris Waller Champions Stablecoins as a Tool for Cheaper Global Payments

Federal Reserve Governor Chris Waller has said that stablecoins and public blockchains could cut cross-border…

September 29, 2025
  • Blockchain News

LBank Celebrates 10 Years With Bold Achievements and Global Expansion

Crypto exchange LBank has announced a historic partnership as the regional sponsor of the Argentina…

September 29, 2025
  • Bitcoin News

Breaking: Strategy Buys 196 Bitcoin as Michael Saylor Says ‘Always Be Stacking’

Strategy, previously MicroStrategy, has announced another weekly Bitcoin purchase, despite the decline in the flagship…

September 29, 2025
  • 24/7 Cryptocurrency News

French Finance Insider Buys $48.9M in XRP, Expert Hints at Bullish Move Ahead

A French finance insider has purchased $48 million in XRP in a new move, sparking…

September 29, 2025