Ripple Moves 160m XRP After Locking 900m Back in Escrow

The Crypto tracker Whale Alert, has reported on Twitter that Ripple DLT decacorn, along with other market participants, has moved a total of 160.1 Million XRP. 

With the support of Crypto giant Ripple, with which XRP is associated, a whopping $94,646,925 worth of XRP has been moved in the last thirteen hours. On April 1, 1000000000 coins were released from the escrow followed by putting most of it back in.

The company sent 10 Million XRP to Bitstamp, a major European crypto exchange with a Luxembourg-based ODL network. Ripple moved another 20 Million XRP internally, to the RL43-EE and RL18-VN wallets, which are used by the organization to transfer crypto outside of Ripple.

A total of 9.5 million XRP has been moved from one of Bitterx’s wallets to another. 

Also, Bybit a crypto exchange has moved the most XRP of all, about 80% of the total XRP sum moved, sending a massive 120,581,000 XRP. that’s $70,449,982 in fiat.

900 Million XRP Moved to Escrow

Ripple Labs made a periodic automated withdrawal of a huge One Billion XRP on April 1.

This happens every month, on the first day. The company has been doing this for a long time, providing XRP to its customers and ensuring the coin’s liquidity on crypto exchanges.

Throughout the history of these transactions, most of the XRP released from Escrow goes back to being locked. The usual figure is 800 Million XRP. Although, this time it was 900 Million.

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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.

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