A lot of XRP seems to be on the move across some of the leading exchanges. Let’s dive deeper.
Usually, such an amount would raise a couple of eyebrows, so let’s have a look at the different transactions and find out if there’s a reason to worry or if it’s just business as usual.identified a couple of transactions consisting of millions of XRP going to wallets in Bitstamp. The second transaction to Bitstamp happened on September 6th at around 20:13 UTC time. The sender was the same Rzn address, and the transaction was for 29,600,000 XRP, worth around $14.8 million at the time of the execution.
The sourcing address starts with rDAE53 and ends with Pxr. Upon closer inspection, it was activated by Binance on November 24th, 2021. The receiving address also belonged to Binance, making this an internal transaction.