HI Guys,
It's Big & BIg #alert about $XRP Locks 800 Million !!!
Ripple Re-Locks 800,000,000 XRP in Escrow, Yet XRP Still Falls
Data from Whale Alert confirms that San Francisco-based company Ripple has re-locked 800 million XRP into its escrow accounts.
According to the data, Ripple re-locked 800 million XRP in three transactions, with each containing 500 million, 200 million, and 100 million XRP. This development occurred shortly after the companyâs escrow system unlocked 1 billion XRP for the month of October.Â
Rippleâs Latest XRP Movements and Re-LocksÂ
As reported earlier, Ripple witness the unlocking of 1 billion XRP from escrow to two of its wallets, rw2hzLâŠJWg3wY and rDqGA2âŠmKxEsF. Both addresses received 500 million XRP each, totaling 1 billion XRP.
A few hours after the transaction, Ripple moved 500 million XRP from rDqGA2âŠmKxEsF to rDdXiâŠFWeCK. The company also transferred 300 million XRP to rKDvgâŠco2op from rw2hzLâŠJWg3wY around the same time.
Following the transactions, Ripple has now locked these funds in escrow across three transactions, representing 80% of the 1 billion XRP unlocked on October 1.
The first re-locking transaction, containing 500 million XRP ($314.84 million), took place yesterday at 12:25 p.m. (UTC). Notably, Ripple re-locked the funds using the rDdXiâŠFWeCK blockchain address.Â
Furthermore, Ripple locked back 300 million XRP in two tranches (200 million XRP and 100 million XRP) using rKDvgâŠco2op. At the time of the transaction, the 300 million XRP was worth $189.02 million.
Given the latest transactions, Ripple is now left with 200 million XRP ($120.4 million) from the October release. The San Francisco-based company could sell the tokens anytime to cater to its business expenses.
XRP Investors Unfazed by Rippleâs Recent UnlockÂ
It bears mentioning that XRP community members are conversant with Rippleâs monthly release.
Hence, the transaction did not trigger panic. The company usually releases 1 billion XRP monthly and re-locks 800 million tokens in escrow.Â
