- Ripple moved 1 billion XRP across multiple wallets, locking 700 million coins in escrow, sparking speculation among investors.
- The absence of the usual April escrow release has raised questions, especially as the Ripple vs. SEC case nears its conclusion.
Ripple has made waves in the crypto community once again, with a staggering move of 1 billion XRP across multiple wallets, raising eyebrows and fueling speculation. This dramatic transfer has caught the attention of investors and analysts alike, especially since 700 million XRP was locked in escrow. But the absence of the typical April escrow release has led many to wonder: What is Ripple up to?
The Billion XRP Move
Ripple’s latest transaction is not your everyday transfer. According to Whale Alert, the blockchain giant moved a total of 1 billion XRP across several wallets. The first part of the transfer saw 300 million XRP, worth around $629 million, sent to the “rBg…91m” address. Another 200 million XRP, valued at $420 million, was directed to the “rKD…2op” wallet. A further 170 million XRP followed suit, making its way to the same wallet, while 330 million XRP landed in the “rDd…eCK” address.
What stands out in these transactions is the way Ripple has handled the XRP post-transfer. Despite shifting such a large amount, the company has locked 700 million XRP back into escrow. This action signals Ripple’s intent to reduce market liquidity, a move that may influence XRP’s price.
Also read: Shiba Inu Dips While Shibarium Reaches Milestone of 1B Transactions
Escrow and Missing Monthly Release
Typically, Ripple releases 1 billion XRP each month, but April has come and gone without the usual escrow release. This unusual gap has sparked confusion and raised questions about Ripple’s strategy. Is this a simple delay, or is there something more to the decision? The crypto community is buzzing with speculation, especially considering the ongoing Ripple vs. SEC case, which is expected to conclude in August.
Market Reaction
While the transaction has stirred up interest, it hasn’t been entirely positive for XRP’s price. As of today, the coin slipped 3% to $2.12, with its one-day trading volume falling by 11%. Analysts are closely watching Ripple’s next moves, especially given the market’s sensitivity and the uncertainty surrounding the legal case.
With 700 million XRP locked in escrow, Ripple seems to be playing a long game. But what comes next could determine the fate of XRP in the near future. Investors are keeping a close eye on Ripple’s next moves as speculations continue to swirl.
