Millions of XRP shifted to Binance, but price takes reverse course $XRP XRPArmy RippleXRP XRPCommunity XRPHolders
There are three possible explanations for why wallets outside of exchanges send their assets there, as shifting coins incurs costs.
If there is a surge of buyers at the spot exchange, investors are probably sending their coins there to be sold. A price fall is a common outcome of this kind of behavior, which is a negative indication.Trading on the volatile derivatives market is the second reason. Last but not least, investors periodically transfer their holdings to exchanges for staking, airdropping, or simple reshuffling.In this instance, it is difficult to draw many conclusions about pricing or volatility.
At the time of writing, XRP was easing intraday gains but remained in the green. XRP was marginally up, 0.99% higher in the last 24 hours to $0.469. The cryptocurrency is, however, up 10% in the past seven days.John Deaton , reveals an interesting find that might suggest that XRP was viewed as a non-security in SEC emails.
I can't wait for these emails to be released. I predict even non-XRP holders, including Ripple critics, will have to objectively say that what the SEC did is flat out wrong. The inquiry about the motive behind this lawsuit will go into a higher gear - mark my words.
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