Popular blockchain tracking platform Whale Alert, which monitors large cryptocurrency transfers, discovered several impressive cryptocurrency transactions that carried nearly 190 million XRP. Two-thirds of this amount of coins were shoveled between anonymous wallets.
Meanwhile, the price of XRP has rebounded, rising nearly 21% over the past 24 hours.
182 million XRP were transferred anonymously
Whale Alert spotted three large transfers that moved approximately 183 million XRP. The largest one holds 99,999,977 XRP worth $222,109,105 USD, while the other two consist of 52,765,919 XRP (worth $118,291,144 USD) and 30,000,000 XRP (worth $70,897,571 USD). In total, the cash equivalent of the transferred cryptocurrency payment was approximately $411.1 million.
The smallest transaction made from the Uphold exchange to an anonymous wallet. The other two XRP coins were placed between unknown blockchain addresses.
Data from XRP-focused explorer Bithomp shows that a transfer of 99.9 million XRP was made from a wallet belonging to blockchain giant Ripple to an address also remotely linked to Ripple.
As U.Today reported, earlier this week, cryptocurrency giant Ripple transferred nearly half a billion US dollars worth of XRP, sending a portion of it to the world’s largest exchange Binance.
Reaction from the XRP community was mixed. While some believe this may be an over-the-counter (OTC) sell-off, others are certain that an anonymous whale bought the recent dip as the price of XRP fell sharply on Friday, following Bitcoin.
Related to
XRP price performance
Over the past 24 hours, the fourth largest cryptocurrency XRP has seen a recovery of approximately 21.48% following yesterday’s massive price drop.
Today, after reaching a local high of $2.37 per coin, XRP saw a slight decline, falling by 3.27%. As of this writing, XRP is trading at $2.30. The currency’s path closely follows that of Bitcoin, which fell 5.23%, below $93,000 on Friday and has managed a 6.26% gain so far, trading at $98,441 at the moment.
This week, the Ripple giant also officially launched its new product – the RLUSD stablecoin pegged to the US dollar and backed by the dollar, US Treasuries, and cash equivalents. The company now competes with giants like Tether (USDT) and Circle (USDC) in the $160 billion stablecoin market, which is expected to rise to $3 trillion by 2028.