News View Non-AMP

Ripple News: XRP Price Jumps after Escrow Moves, Whales Offload Millions

Published by
Mustafa Mulla

Ripple has made a significant move, deciding to lock away a substantial 800 million XRP, creating a buzz in the cryptocurrency community. This strategic decision is part of a recurring monthly program. Ripple’s strategy involves a monthly program where a considerable amount of XRP is locked away into escrow. This intentional step aims to bring predictability and stability to the often unpredictable cryptocurrency market.

At the same time, amid Ripple’s strategic locking, large investors or ‘whales’ have made significant moves in the market, offloading a hefty 67.6 million XRP onto cryptocurrency exchanges (CEXs), causing a stir in the crypto space.

Tracking Whale Moves

Whale Alert, a blockchain tracker monitoring on-chain data, reported an impressive transfer of 867.6 million XRP tokens. Ripple intentionally secured 800 million XRP in a secure escrow wallet, emphasizing its commitment to a controlled supply.

Also Read: Ripple Hack Update: Here’s What Happened To Stolen XRP Tokens

Massive Offloading

Simultaneously, an XRP Whale engaged in a notable offloading spree, moving 67.6 million XRP onto CEXs. Whale Alert’s data traced the transactions, with 37.9 million XRP sent to Bitstamp in Luxembourg City and 29.7 million XRP to Bitso in Mexico City.

Adding an extra layer of interest is the apparent frequency of transfers to Bitstamp and Bitso, aligning with Ripple’s strategic involvement with these specific exchanges.

Following these significant moves, the price of XRP saw a 2.04% surge in the last 24 hours, reaching $0.51. While this short-term boost is promising, the weekly chart reflects a 1.54% drop, accompanied by a more substantial 20.31% monthly plunge.

Read More: Ripple News: CEO Assures System Security Post $112M XRP Hack

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Sui (SUI) Price Analysis Today: Key Targets to Consider Ahead

The Sui network has attracted significant investment from institutional investors seeking to capitalize on its…

April 25, 2025

Dogecoin Price Analysis: Momentum Favors Further Gains

Technical analysis shows that the Dogecoin price is poised to gain 33% to 23 cents…

April 25, 2025

Helium Network Announces Strategic Partnership With AT&T: What Next for $HNT Price?

The AT&T subscribers can connect to Helium’s community-built Wi-Fi network. The Helium network has grown…

April 25, 2025

Ethereum Price Prediction 2025: ETH Price May Trigger a 10x Rally, if This Trade Setup Plays Out Well

The crypto markets are experiencing a powerful bullish wave, highlighted by Bitcoin’s breakout and a…

April 25, 2025

What’s Next for the Chainlink (LINK) Price-Will it Reclaim $20 Before the End of the Month?

The recent rise in the bullish momentum has elevated the markets above the bearish captivity…

April 25, 2025

Coinbase Inks Strategic Partnership With PayPal to Enable Mainstream Adoption of PYUSD Stablecoin

The PayPal USD (PYUSD) stablecoin is fast approaching the $1 billion market cap milestone. The…

April 24, 2025