The movement of 40 million XRP to Binance sparked speculation in the crypto market. Despite being an internal transfer, the analysis from Bithomp confirms that this significant transaction has influenced XRP’s value, contributing to price dynamics.

Following the transfer, XRP’s price jumped by 12%, moving from 2.92 USD to 3.29 USD before stabilizing around 3.25 USD. This fluctuation indicates a strong market response to large scale transactions in the cryptocurrency arena.