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2.6 Billion Ripple Tokens Shift To Unknown Wallets

A huge amount of XRP tokens have shifted from Ripple escrow wallet to another address among which at least two of the transactions include unknown wallets.

The recent tweet shows a series of transactions beginning with 200,000,000 XRP (around $70 million).

For huge XRP fans this news is viewed as the institutions buying the dip. On the other hand it for opposite parties it is seen as Ripple Labs cashing out and dumping on the holders.

This was not the only big move. There were two more:

They moved another 750m then 999m within the same hour.

According to the user, the top three transactions all arrive at the same address, which now has a total of 2.6 billion XRP. In other words, 2.6% of the total amount of tokens in existence. It is hard to find out the reason behind these moves. As none of the officials from Ripple have come up with the clarification.

Most of the transactions initiate from known Ripple wallets. So that those can most likely be chalked up to the company moving their funds around. However the largest transaction features two unknown addresses. Thus the owner of the wallet will remain a secret.

Ripple has locked near about 55% of the total possible supply into a series of escrows. The escrow consists of independent on ledger escrows that release a total of one billion XRP each month in the upcoming 55 months. By placing 55 billion XRP into time-based escrows, Ripple makes sure that the supply of XRP is predictable and increases at a steady rate. Others who hold XRP know that Ripple cannot flood the market, even if the company’s priorities or strategies change.

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2.6 Billion Ripple Tokens Shift To Unknown Wallets
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2.6 Billion Ripple Tokens Shift To Unknown Wallets
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A huge amount of XRP tokens have shifted from Ripple escrow wallet to another address among which at least two of the transactions include unknown wallets.
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Coinpedia
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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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