Ripple 200M XRP Transferred from Unknown Wallet: What is Happening?

The XRP community observed a large transfer of 200,000,000 XRP worth $94.56 million between two unidentified addresses just before the beginning of July. The transfer has sparked speculation that it may be related to Ripple’s escrow execution, scheduled for July 1. However, as of now, there have been no confirmed escrow transactions from Ripple.

Source: x.com/whale_alert

Analysis of blockchain records indicates potential affiliations between the anonymous wallets involved in the 200 million XRP transfer and Ripple. The source wallet “rP4X2hTa7A” was activated by the destination address “rJqiMb94hy” last year, and this address was itself activated by Ripple in 2021.

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Prior to this significant transfer, wallet “rP4X2hTa7A” had been making smaller XRP transactions to multiple anonymous addresses over a period of ten days, following a deposit of 250 million XRP on June 20. This deposit originated from the “Ripple 1” wallet.

It’s worth noting that in June, Ripple also offloaded 400 million XRP, including a transfer of 150 million XRP to wallet “rP4X2hTa7A” on June 7. This aligns with previous warnings that Ripple might release 400 million XRP in June, representing a doubling of its average liquidation over preceding months.

The increased XRP release was foreshadowed by careful examination of Ripple’s unusual transactions leading up to the 1 billion XRP released from escrow on June 1. As anticipated, the 400 million XRP held in Ripple’s primary spendable wallet moved to external addresses.

As of now, the anonymous recipient wallet of the 200 million XRP is still holding the tokens without any outgoing transactions.

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Tolu Zach is a multifaceted professional with expertise in both crypto content creation and medical laboratory technology. With a unique blend of analytical skills and industry knowledge, Tolu navigates the complexities of cryptocurrency while maintaining a pivotal role in healthcare. Trusted for insightful analysis and accurate diagnostics, Tolu excels in diverse fields.
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