296,956,007,729 were transferred between two addresses today. These addresses transferred nearly $100 million in XRP in a single transfer. Is this bound to cause panic?

According to on-chain data, the receiving address "rJqiMb94" was activated by Ripple as early as 2021 and previously held 7.32 million XRP.

Considering the overlap with Ripple and the size of the wallet, we can assume that the address belongs to Ripple. The sender address is relatively new and holds 5.12 million XRP. This transfer is likely Ripple transferring funds from one wallet to another.

In fact, every month, Ripple releases 1 billion XRP from the escrow account, and unused tokens are returned at the end of the month. This mechanism is designed to manage supply and keep prices stable. So don’t be too panic

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