In the latest XRP news, Ripple has once again stolen the spotlight with a massive 1 billion XRP move. The blockchain firm transferred the tokens across multiple wallets, with 700 million coins later locked in escrow. However, the unusual absence of the scheduled April escrow release has left investors questioning Ripple’s motives.
Advertisement
Advertisement
XRP News: Ripple’s 1 Billion Move Sparks Speculation
Ripple has been the hot topic in the latest XRP news thread with its latest move. The recent transactions have drawn attention due to their sheer volume and an unexpected deviation from its usual schedule.
According to Whale Alert, the blockchain company moved 1 billion XRP in multiple transactions, with a significant portion being re-locked in escrow. Whale Alert data showed that the first transfer saw 300 million XRP, valued at approximately $629 million, sent from the Ripple (26) wallet to the “rBg…91m” address. Shortly after, another 200 million XRP worth $420 million was sent to the “rKD…2op” wallet.
Interestingly, the “rKD…2op” wallet later received another 170 million XRP in a separate transaction from Ripple (27). Soon after, 330 million XRP was transferred to the “rDd…eCK” address, marking its first transaction since March. These movements totaled 1 billion XRP.
Advertisement
Advertisement
Ripple Locked 700 Mln XRP In Escrow
Despite moving a massive sum, Ripple locked 700 million XRP back into escrow accounts. The “rKD…2op” wallet, which received 370 million XRP, locked the entire amount in escrow shortly after the transactions.
Similarly, the “rDd…eCK” wallet re-locked all 330 million XRP it received. This brought the total escrowed amount to 700 million, leaving 300 million XRP untouched. Currently, the wallet “rBg…91m” holds these funds, likely for operational liquidity.
Advertisement
Advertisement
What’s Lies Ahead?
These latest transfers have drawn attention mostly due to the absence of the expected 1 billion XRP escrow release in April. Usually, Ripple releases 1 billion XRP on the first day of each month before re-locking a part of the locked amount. However, no such event has been witnessed this month yet.
However, with these latest transfers, speculations are high on the potential reason behind the move. Besides, the discussions further amplified as the Ripple Vs SEC case is likely to end in August.
Meanwhile, amid the transfer, XRP price today slipped 3% to $2.12, while its one-day volume fell 11% to $3.83 billion. Besides, a recent report indicates that Ripple’s coin price may slip to $1.5 if it loses critical support ahead.
Advertisement
✓ Share:
- TAGS
- Ripple
- Ripple (XRP)
- XRP
- XRP news
- Trending
- Price Analysis
- Kraken Obtains Restricted Dealer Registration in Canada, Here’s All
- Bitcoin Price Likely To Follow Stock Market Movement After Trump’s Tariff: Report
- Peter Schiff Debunks Bitcoin’s ‘Digital Gold’ Status, Here’s Why
- Cardano Price Today: ADA’s Death Cross Signals 25% Crash
- Can Bitcoin’s Funding Rate Predict Where Ethereum Price Will Head Next?
- DOGE, PEPE, SHIB Price Prediction April 2: Altcoins Bleed But Meme Coins Bounce
- Can Bitcoin Price Retest 109K ATH as Bloomberg Warns of ‘Grim Fiscal Reckoning’?
- Top Analyst Says Ethereum Price is ‘Extremely Undervalued’ as ETH Flips Solana in Key Metric
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
