A prominent crypto whale has recently made a massive profit via $XRP. As per the data from Onchain Lens, the crypto whale has shifted up to 26.5M $XRP into Binance following holding the respective assets for nearly 2.3 years, getting a huge $56.87M in gains. The on-chain analytics platform took to social media to disclose this event.
Crypto Whale Pockets $56.87M after Shifting $67.65M in $XRP into Binance
In line with the Onchain Lens data, the crypto whale has deposited up to $67.65M in $XRP into Binance. The whale had reportedly held the respective assets for almost 2.3 years before shifting them. This transfer denotes a crucial profit-taking move, as crypto whale originally amassed 25.12M $XRP at a considerably lower price.
The on-chain data shared by Nansen.ai suggests that the whale initially bought a notable amount of $XRP from Binance. This purchase took place between the 22nd of April and 24th of November in 2022. At that time, the whale reportedly paid an average $0.429 for each purchased $XRP. In this respect, the cumulative $XRP holdings cost him nearly $10.77M. Apart from just holding $XRP, the crypto whale also used these assets in a liquidity pool through Binance Coin ($BNB). Hence, the whale earned up to 1.38M $XRP.
Massive $XRP Shift Could Impact Price Dynamics
According to Onchain Lens, the latest $XRP deposit by the whale has led to an exceptional gain of approximately $56.87M. Such a transfer usually affects price dynamics in short term. While the whales and institutional investors keep navigating the crypto sector, this strategic development could be noteworthy. Thus, it could substantially contribute to shaping the wider market trends in the next months.
