The cryptocurrency world continues to watch XRP closely, especially in the wake of regulatory scrutiny and exchange delistings. Despite Binance.US officially suspending XRP trading, recent blockchain data reveals a surprising movement: over 51 million XRP, valued at approximately $13 million, was transferred by both Ripple and Binance.US within a 24-hour window. This activity, tracked by the on-chain monitoring platform Whale Alert, has reignited discussions around XRP’s liquidity, institutional involvement, and long-term viability.
Major XRP Transactions Detected
According to Whale Alert, two significant XRP transactions were recorded in late January 2021:
- Ripple transferred 21.4 million XRP (worth ~$5.8 million at the time) from one of its known wallets to an unidentified recipient.
- Binance.US moved 30 million XRP (~$8.1 million) between internal wallets.
These movements occurred shortly after Binance.US announced the formal suspension of XRP trading — raising questions about how and why such large volumes were still being managed on-chain.
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While the exact purpose of these transfers remains unconfirmed, industry analysts suggest they could relate to internal fund restructuring, cold storage reallocation, or compliance-driven wallet management rather than direct market sales.
Why Is Ripple Moving XRP?
Ripple Labs holds a substantial reserve of XRP, originally created alongside the launch of the XRP Ledger. The company uses portions of this reserve for various operational purposes:
- Funding strategic partnerships
- Supporting liquidity programs
- Paying for cross-border payment settlements via RippleNet
- Covering development and legal expenses
Periodic transfers from Ripple’s escrow accounts or corporate wallets are not uncommon. However, large-scale movements often attract attention due to their potential influence on market sentiment — even if no immediate selling occurs.
In this case, the transfer of 21.4 million XRP likely represents internal financial operations rather than an attempt to dump tokens on the open market. Ripple has consistently emphasized transparency, regularly reporting wallet activities through official channels and third-party trackers.
Binance.US and the XRP Delisting Context
The context surrounding Binance.US’s movement of 30 million XRP is particularly noteworthy. The U.S.-based exchange officially suspended XRP trading on January 13, 2021, following the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs.
The SEC alleged that Ripple had conducted an unregistered securities offering by selling over $1.3 billion worth of XRP over seven years. As a result, several major U.S. exchanges, including Binance.US, Coinbase, and Bittrex, either paused trading or fully delisted XRP to remain compliant with evolving regulatory expectations.
Yet, despite halting trading, exchanges still maintain custody of user-held assets. Therefore, moving large sums between cold and hot wallets — as Binance.US did — is standard operational practice for security and risk management.
This kind of internal movement does not indicate renewed trading activity or endorsement of XRP but reflects responsible asset management behind the scenes.
Market Reaction and XRP Price Trends
At the time of the reported transactions, **XRP was trading around $0.2697**, reflecting a nearly **5% drop in 24 hours**. Although it briefly surged toward $0.35 in the preceding days — signaling a short-term recovery — the price failed to sustain those gains.
Currently, XRP ranks 5th by market capitalization, trailing behind Polkadot (DOT), which claimed the 4th spot during this period of volatility.
Despite ongoing legal challenges, XRP has maintained strong community support and continued utility in international payments. Financial institutions exploring blockchain-based remittances still view the XRP Ledger (XRPL) as a viable infrastructure for fast, low-cost transactions.
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Legal Developments: Ripple’s Defense Strategy
In response to the SEC lawsuit, Ripple has mounted a robust legal defense. The company has hired 21 attorneys — a mix of securities law experts and blockchain-savvy litigators — to represent both the firm and its top executives, Brad Garlinghouse and Chris Larsen.
A pretrial conference was scheduled for February 22, 2021, marking a critical phase in the case. Legal analysts are watching closely to see whether the court will recognize XRP as a currency or classify it as a security — a distinction with far-reaching implications for the entire crypto industry.
Ripple argues that XRP functions more like digital cash than an investment contract, emphasizing its use in real-world payment solutions rather than speculative trading.
Frequently Asked Questions (FAQ)
Why did Binance.US move 30 million XRP if it delisted the token?
Even after delisting, exchanges retain custody of users’ assets. Moving funds between wallets is part of routine security practices, such as transferring coins to cold storage or rebalancing reserves.
Does Ripple selling XRP affect its price?
Large transfers don’t necessarily mean Ripple is selling. If tokens are moved internally or used for non-market purposes, price impact may be minimal. However, any confirmed sale can trigger short-term volatility.
Is XRP still a good investment after the SEC lawsuit?
Investment decisions depend on individual risk tolerance. While regulatory uncertainty persists, many believe in XRP’s long-term utility in cross-border payments. Always conduct independent research before investing.
Can exchanges relist XRP in the future?
Yes — if regulatory clarity improves or if Ripple wins key legal rulings establishing XRP as non-security, major exchanges may reconsider listing it.
What is Whale Alert and why does it matter?
Whale Alert is a blockchain monitoring tool that tracks large cryptocurrency transactions in real time. It helps investors identify potential market-moving activities and enhances transparency in decentralized networks.
How does wallet activity influence crypto prices?
While not all movements affect supply-demand dynamics, large outflows from reserves or exchanges can signal upcoming selling pressure — influencing trader sentiment and short-term price action.
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Final Thoughts
The movement of 51 million XRP by Ripple and Binance.US underscores a key truth in crypto: on-chain activity often tells a deeper story than surface-level headlines. Even amid delistings and lawsuits, core ecosystem players continue managing assets strategically.
For investors and observers alike, understanding the difference between trading suspension and total withdrawal — between wallet transfers and token sales — is crucial. As the legal battle unfolds and market conditions evolve, XRP remains one of the most watched digital assets in the blockchain space.
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