As a seasoned researcher who has been following the cryptocurrency market for years now, I find myself constantly intrigued by the mysterious moves of whales and their impact on the market. The recent 182 million XRP transaction, with two-thirds being moved anonymously, is yet another example of such intrigue.
Tracking platform Whale Alert, known for monitoring significant cryptocurrency transfers, has identified some notable transactions involving approximately 190 million XRP. A large portion, about two-thirds, of these coins were moved between unidentified digital 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.
⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ A massive amount of approximately 99,999,977 units of XRP, equivalent to around 222,109,105 USD, has been moved from an unidentified wallet to another unidentified wallet.
— Whale Alert (@whale_alert) December 20, 2024
The smallest transaction was made from the Uphold exchange to an anonymous wallet. The other two XRP chunks were shoveled between unknown blockchain addresses.
According to data from the XRP-centric explorer Bithomp, it appears that a transfer of approximately 99.9 million XRP was sent from a wallet linked to the massive Ripple blockchain entity to an address with ties to Ripple as well.
According to U.Today’s report, just this past week, the massive cryptocurrency entity Ripple moved roughly $500 million USD equivalent in XRP tokens, with a portion of that transfer going to the globe’s largest crypto exchange, Binance.
The response from the XRP community was varied. Some speculate it might have been an over-the-counter transaction, while others suspect a large, unidentified investor (often referred to as a ‘whale’) could have taken advantage of the recent drop in price when XRP fell sharply on Friday, coinciding with Bitcoin‘s movement.
XRP price performance
In the past day, the digital currency XRP, which ranks as the fourth largest, has experienced a roughly 21.48% rebound after experiencing a significant drop in value the previous day.
Currently, after peaking at $2.37 per unit, XRP saw a slight decrease of 3.27%. At present, it’s being traded at around $2.30. Interestingly, its price movement mirrors that of Bitcoin, which dipped by 5.23% and fell below $93,000 on Friday, but has since recovered by 6.26%, now trading at approximately $98,441.
This week, Ripple Corporation has unveiled its latest offering – the RLUSD stablecoin, tied to the U.S. dollar and supported by dollars, U.S. Treasury bonds, and cash equivalents. The firm is now vying with heavyweights like Tether (USDT) and Circle (USDC) in the $160 billion market of stablecoins, a sector anticipated to grow exponentially to reach $3 trillion by 2028.
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2024-12-21 13:13