The data on the chain show that a wallet related to Ripple turned out 50 million XRPs on August 13, worth about $5.5 million. The wallet received 150 million XRP earlier this month. After the transfer, the market began to follow up on the funds.
Financial flows
The receiving address is currently transferring 1 million XRPs to a wallet associated with Binance. The remaining 49 million XRPs remain at that address. The chain records indicate that this action may mean further diversion.
Market focus
At present, the transfer does not directly prove that the sale has taken place. However, as a result of the movement of the receiving address in relation to the trading platform, the continued transfer of follow-up funds to the exchange will be the focus of observation.