 
 
XRP whales have intensified accumulations following Ripple Labs’ RLUSD stablecoin growth. The last 24 hours have added to mounting inflows seen since early last month on the back of United States activities. The stablecoin buzz, alongside perks and partnerships, has triggered a wider upside swing out of the doldrums.
XRP Records Massive Whale Activity
In the last 24 hours, XRP has recorded surging inflows as whales tip a higher price target. Whales moved 120 million XRP worth approximately $283 million from Binance to an unknown wallet.
This transfer marks potential long-term holding amid similar transfers in other tokens. Traditionally, whale movements shape the market due to the size of holdings. Transfers out of centralized exchanges point to more potential accumulations, while movements into exchanges indicate an imminent selloff.
Earlier, on-chain firms flagged an outflow of 800,000,000 XRP worth approximately $1.94 billion from Binance to an unknown wallet. This followed the latter transfer and sparked markets with hourly bullish traction. Veteran trader Ali_charts spotted additional inflows to XRP. In a recent tweet hours after previously reported inflows, Ali noted whales have purchased 839 million XRP in the last 24 hours.
XRP’s bullish performance can be linked to the activities of institutional and retail traders. Institutional traders dominate the market with a similar effect to XRP. In the last seven days, institutional fund flows tapped $145 million, a surge from the previous week. This uphill trajectory was linked to anticipated spot XRP ETF approvals in the United States.
 
Ripple’s RLUSD Stablecoin
Ripple announced its much-anticipated stablecoin on Dec 17, igniting a new institutional market wave. This group of investors utilizes stablecoins as bridge assets, pouring funds into the wider ecosystem. According to the company, RLUSD will be available on Bitso, Uphold, MoonPay, CoinMENA, etc.
The company highlighted key project partners across several jurisdictions, stressing a new era for cross-border payments. Next year, Ripple Payments, which has processed $70 billion in volume, will facilitate global payments on behalf of its enterprise customers.
“Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents—designed to ensure its stability, reliability, and liquidity. To maintain the highest standards of transparency, Ripple will publish monthly, third-party attestations of RLUSD’s reserve assets, conducted by an independent auditing firm,” the company wrote.
Source: https://zycrypto.com/xrp-whales-move-nearly-300-million-as-ripples-rlusd-stablecoin-triggers-massive-accumulation-wave/