Ripple Moves Over 1 Billion XRP, Locks Back 800 Million in Escrow
Whale Alert data reveals significant XRP movements by Ripple on May 1st. The San Francisco-based blockchain firm transferred over 1 billion XRP across five transactions involving its XRPL wallets. This activity comes after a reported deviation from their standard practice: on May 1st, Ripple released only 500 million XRP from escrow, half their usual amount.
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Breaking Down the Transfers
Despite the lower escrow release, Ripple continued its practice of locking XRP back in escrow. Here’s a breakdown of the key movements:
- 500 Million XRP Released and Redistributed:
Ripple distributed the released 500 million XRP between two wallets, allocating 200 million to one and 300 million to another. Interestingly, the 300 million recipient immediately locked all tokens back in escrow across two transactions. - Additional 500 Million XRP Moved and Returned to Escrow:
Ripple transferred another 500 million XRP, released from escrow last month, to a different wallet. This recipient also promptly returned the entire amount to escrow. This action brings the total XRP secured back in escrow to 800 million, consistent with their standard practice. - Remaining XRP Held by Ripple Wallets:
The address that received the initial 200 million XRP remains in possession of the tokens. Additionally, Ripple transferred 60 million XRP in two separate transactions to other wallets, bringing the total remaining XRP outside escrow to 260 million.
Market Impact and Historical Context
Despite these substantial movements, the XRP price has remained relatively stable. XRP is currently experiencing a recovery alongside Solana (SOL) and Pepe (PEPE), unlike most other cryptocurrencies.
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These regular “whale movements” by Ripple often raise concerns about potential selloffs. In the past few months, Ripple has executed similar transfers: 253 million XRP in January, 60 million in February, and 130 million in March. However, with 800 million XRP locked back in escrow and the remaining tokens distributed across multiple wallets, the recent activity seems to be within the normal range.
While the reasons behind the lower escrow release remain unclear, Ripple’s recent XRP movements follow their established pattern. The locking of a significant portion back in escrow and the relatively stable XRP price suggest these transfers are unlikely to trigger a major market disruption.
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