Ripple wallet moves 50M XRP to Binance-linked address amid $1 test

2 min

A Ripple-linked wallet moved 50 million XRP, worth just over $50 million at the time, to an internal subwallet on August 13. The transfer coincided with XRP closing near $1.00, its lowest daily close since November 2024, while aggregate derivatives open interest approached $986.48 million.

Wallet Flows: Internal Routing and Binance-Linked Destination

Transaction data showed the Ripple (50) wallet sent funds to the internal subwallet raRVLN1. That subwallet then distributed XRP, largely in 1 million XRP tranches, to rBNCyN, an address attributed by XRPScan to Binance. Ripple-linked wallets sent a combined 23 million XRP to rBNCyN during the week, after which the tokens moved on to Binance. On-chain evidence indicates operational liquidity routing or market-making flows: the data confirms wallet relationships and exchange-linked destinations but does not establish the purpose of each transfer.

Source: Whale Alert

Network Activity

Active addresses: averaged ~35,700 per day in August, up from ~26,400 in July.
New addresses: ~2,260 per day, little change month over month.

The data indicates higher engagement from existing users rather than accelerated user onboarding.

Price Structure and Key Levels

Trend: XRP trading in a descending structure.
Support: $1.00–$1.015 remains the key range. A break below $1.00 could increase downside risk.
Resistance: first at $1.022. A move above could open $1.05–$1.07.

Source: XRPUSD / Tradingview

Derivatives Positioning

Open interest: ~$986.48 million.
Long/short ratio: 3.095.
Funding rate: +0.0087.

Positioning shows a long bias. Crowded longs increase liquidation risk if $1.00 support fails.

Bottom Line

Ripple-linked wallet flows routed funds through internal addresses toward a Binance-linked wallet as XRP tested the $1.00 area. Network activity rose among existing users, while derivatives positioning skewed long. Price reaction around $1.00–$1.015 remains pivotal for near-term direction.