XRP Jumps 20% After Mysterious Binance Transfers as Crypto Rally Expands to Laggards
The action could be a sign of traders rotating some of their capital to tokens that haven’t moved yet.
The action could be a sign of traders rotating some of their capital to tokens that haven’t moved yet.
The latest price moves in crypto markets in context for Feb. 2, 2024.
Over $120 million in XRP was stolen from Ripple Labs Executive Chairman Chris Larsen earlier this week.
The failed token transfers spooked some market watchers as they amounted to nearly half of XRP’s $30 billion market capitalization.
Earlier this month, Ripple-owned infrastructure provider Metaco said it was working with banking powerhouse HSBC.
If I had a nickel for every time someone made a fake crypto-related Delaware filing, I’d have two nickels.
XRP traders often react to Ripple developments even as the company maintains distance from the token.
XRP gained 6.5%, the biggest single-day percentage rise since July 13.
Ether fell 0.5%, Solana’s SOL fell 1.4%, while Cardano’s ADA and BNB Chain’s BNB traded flat.
Broader crypto markets dropped 0.7% in the past 24 hours, the CoinDesk Market Index (CMI) shows.