This study performed an aerodynamic characterization of the FFA-W3-211 wind turbine tip airfoil in transonic flow using Unsteady Reynolds-Averaged Navier-Stokes (URANS) simulations, for both steady and dynamic operational conditions. First, the boundary between subsonic and supersonic flow in static conditions was identified, depending on the angle of attack, the approach flow Mach number, and the Reynolds number. The analysis points out that higher Reynolds numbers promote the occurrence of local supersonic flow. Thereafter, to investigate the dynamic behavior in the transonic flow regime, a sinusoidal pitching motion with representative values was imposed. A hysteresis, similar to but distinct from dynamic stall, was observed for entering and leaving the supersonic and subsonic regions. Elevated reduced frequencies widened the hysteresis loop, resulting in increased normal forces on the airfoil. The study indicated that an increase in reduced frequency leads to an earlier onset of transonic flow. In conclusion, the risk of transonic flow occurring during normal operation of the next generation wind turbines predicted in earlier studies could be corroborated. Moreover, dynamic effects and Reynolds number dependencies can be significant.