Tuesday, February 7

Following The Ripple Unlocking 1 Billion XRP, Ripple Locked Back A Whopping 900 Million Crypto Asset

A few hours after unlocking a whopping 1 billion, Ripple has locked back a whopping 900 million units of the crypto asset.

The update was tweeted by Whale Alert, Roughly 10 hours ago, 200 million XRP worth $64.95 million at the time of the transaction were locked at Ripple escrow wallet. The transaction was made from an unknown wallet,

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On the same premise, another 100 million XRP valued at around $32.94 million were locked in Ripple escrow wallet. 

Another 100 million XRP worth $32.94 million was locked by the Silicon Valley tech company.

Ripple also locked a whopping 500 million XRP coins in its escrow wallet, with the funds worth $163.05 million at the time of the transaction. 

The series of the above transaction usually occurs sometime after Ripple releases its routine 1 billion XRP from escrow. The leading blockchain company locks back the coin to prevent the price of XRP from dropping further as Ripple continues to engage the Securities and Exchange Commission (SEC) in a legal battle over its 2013 ICO. 

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Apart from the 900 million XRP locked at Ripple escrow wallet. Ripple Over-the-Counter distribution wallet sent 300 million XRP, worth $98 million, to an unknown wallet. 

Aside from the above transactions, Whale Alert also observed other large XRP transactions over the last 24 hours. The transactions saw the shuffling of XRP among Ripple, cryptocurrency exchanges, and unknown wallets.

According to the data, Five hundred million XRP ($164 million) were transferred to an unknown wallet from another unknown wallet. 

Interestingly, Whale Alert observed the movement of 300 million XRP from an unknown wallet to Ripple. It is worth that noting, this transaction is in line with Ripple’s commitment to purchase XRP from secondary markets amid growing demand for the company’s On-Demand Liquidity offering. 

Also, a whopping 180 million XRP worth $58.32  million was transferred to another unknown wallet.

Whale Alert also tracked the movement of 50 million XRP worth $16.38 million from an address on Crypto.com to an unknown wallet. 

Additionally, an unknown wallet sent 30 million XRP ($9.97 million) to a Bitstamp address. 

In addition, an anonymous user sent 60 million XRP worth $20 million to a Bitso wallet, while another 54.3 million ($18.05 million) from Bitso to an unknown wallet. 

In a nutshell, 900 Million were locked by Ripple in Escrow, Ripple OTC sent 300 Million, and Whales moved 1,174,300,000 (1.174 billion) tokens. In total 2,374,300,000 (2.37 billion) XRP moved in 24 hours.

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