182 Million XRP in 24 Hours, Here's What Happened

Popular blockchain tracking platform Whale Alert, which monitors large cryptocurrency transfers, has spotted several impressive crypto transactions that carried close to 190 million XRP. Two-thirds of this amount of coins were shoveled between anonymous wallets.

Meanwhile, the XRP price has rebounded, soaring by roughly 21% over the past 24 hours.

182 million XRP moved anonymously

Whale Alert spotted three large transfers that moved almost 183 million XRP. The largest one carried 99,999,977 XRP worth $222,109,105, and the other two comprised 52,765,919 XRP (valued at $118,291,144) and 30,000,000 XRP (worth $70,897,571). In total, the fiat equivalent of the transferred crypto batch amounted to approximately $411.1 million.

The smallest transaction was made from the Uphold exchange to an anonymous wallet. The other two XRP chunks were shoveled between unknown blockchain addresses.

Data from the XRP-focused explorer Bithomp shows that the 99.9 million XRP transfer was made from a wallet affiliated with the Ripple blockchain behemoth to an address also distantly related to Ripple.

As reported by U.Today, earlier this week, the crypto juggernaut Ripple already transferred approximately half a billion U.S. dollars worth of XRP, sending part of it to the worlds largest exchange Binance.

The reaction of the XRP community was mixed. While some believe that this could perhaps be an OTC (over-the-counter) sale, others are certain that an anonymous whale has bought the recent dip as the XRP price plummeted hard on Friday, following Bitcoin.

XRP price performance

Over the last 24 hours, the fourth largest cryptocurrency XRP has seen an approximately 21.48% recovery following yesterdays massive price plunge.

Today, having reached a local high of $2.37 per coin, XRP experienced a small drawdown, dropping 3.27%. As of this writing, XRP is changing hands at $2.30. The coins trajectory has been closely following that of Bitcoin, which fell by 5.23%, going below $93,000 on Friday and has managed to gain 6.26% by now, trading at $98,441 at the moment.

This week, the Ripple giant has also officially launched its new product — the RLUSD stablecoin pegged to the U.S. dollar and backed by dollars, U.S. Treasuries and cash equivalents. The company is now competing with such giants as Tether (USDT) and Circle (USDC) in the $160 billion market of stablecoins, which is projected to soar to $3 trillion by 2028.