Ripple Shocks XRP Army With Unusual Transfers, Releases $3.28B In Minutes
Main Idea
Ripple executed unusual large-scale XRP transfers totaling $3.28 billion in minutes, sparking questions from the XRP community about its escrow activity.
Key Points
1. On August 9, Ripple released 1 billion XRP (worth $3.28 billion) in three rapid transfers, including 500 million XRP to an unknown wallet.
2. The transfers included 100 million XRP ($328 million) and 400 million XRP ($1.31 billion) attributed to Ripple.
3. This activity deviated from Ripple's usual escrow release schedule, raising community concerns.
4. XRP's price was $3.24 at the time, down 1.84% but up 16% from the previous week.
5. Ripple has previously addressed irregularities in its escrow mechanism by adhering to its release schedule.
Description
On August 9, blockchain tracking services recorded a rapid sequence of escrow unlocks for XRP that occurred within minutes. Three transfers were logged, totaling 1 billion XRP. The largest single transfer was 500 million XRP, valued at approximately $1.64 billion, to an unknown wallet. Two additional releases attributed to Ripple accounted for 500 million XRP, recorded as 100 million XRP (approximately $328 million) and 400 million XRP (nearly $1.31 billion). Together, these movements represent ...
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