David Edwards
Whale Alert, a blockchain monitoring software, has identified a number of noteworthy XRP transactions, including the transfer of about 183 million tokens in less than a day. These changes, which are worth about $411.1 million, occur at the same time that XRP’s price has significantly recovered after a recent decline by more than 21%.
XRP Transfers Are Predominately Anonymous Whale Activity
Three significant XRP transactions were detected by Whale Alert, including a $222.1 million XRP transfer totaling 99,999,977. 30,000,000 XRP ($70.9 million) and 52,765,919 XRP ($118.3 million) were among the remaining transactions.
According to XRP explorer Bithomp, the biggest transfer started from a wallet connected to Ripple and went to a different address that was not directly connected to the business. This is consistent with Ripple’s prior large-scale transactions, such as the $500 million XRP transfer that was transferred to Binance earlier this week.
The XRP community was further fueled by a single, smaller transaction that involved the transfer of 30 million XRP from the Uphold exchange to an anonymous wallet. While some consider these to be over-the-counter (OTC) transactions, others view them as calculated whale purchases made during the most recent price decline.
Price Recovery of XRP Despite market volatility, XRP has recovered well, rising 21.48% over the past day following a notable decline that coincided with Bitcoin’s decline. Before a slight 3.27% drop pushed it down to $2.30, XRP hit a local high of $2.37.
The market movements of Ripple are similar to those of Bitcoin, which had a 5.23% decline to $93,000 on Friday before rising 6.26% to $98,441.
