Ripple moves another billion XRP from escrow, while anonymous wallets and exchanges moved over 200 million XRP coins
Roughly nine hours ago, Ripple made a withdrawal of another one billion XRP lump from escrow, following its regular programmed schedule of releasing 55 billion XRP since 2017.
Ripple moves another billion XRP, adding some in circulation
Whale Alert has shared that fintech heavyweight Ripple has released one billion XRP coins into escrow as the first day of another month has arrived. However, most of this crypto will be locked.
Around 200 million XRP will actually be added to the circulating amount of this Ripple-affiliated cryptocurrency.
XRP was released in two tranches of 500 million XRP each; in total, this crypto sum comprises around $780,000,000.
When these large XRP releases kicked off, some in the XRP Army were afraid they would hold the token’s price down. A petition was started on Change.org to urge Ripple to stop those regular movements of crypto. However, as time went by, it turned out that the price was not impacted by these actions of Ripple Labs.
Anon wallets and exchanges move 222 million XRP
Whale Alert also reported that a total of 222,000,000 XRP had been transferred by multiple wallets marked by the crypto tracker as “unknown” and multiple crypto exchanges.
However, analytics shared by Bithomp XRP-centered data aggregator shows that these unknown wallets also belong to that crypto exchange. Thus, the largest transaction here, 152,027,860 XRP, was made by Binance internally. This sum in XRP is the equivalent of $118,621,930.
Smaller transactions were made by Bittrex, Bitso and Bithumb. They moved a total of 70 million coins, including 20 million, 20 million, 13 million, and 17 million XRP.
XRP recovering along with the market
In the meantime, the cryptocurrency market has made a U-turn and entered the green zone: most of the largest 100 cryptos are rising, following the spike of the Bitcoin price, which started yesterday and continued today.
On Monday, the flagship cryptocurrency broke above the $40,000 level, and today it rose to briefly touch $44,000 and then take a small pullback.
Ripple-affiliated crypto XRP is changing hands at $0.7707, as per CoinMarketCap, surging 6.43% over the past 24 hours and rising almost 12% in the past seven days.
