Ripple Locks 700 Million XRP in Escrow, As Prominent Exchanges Sends 172 Million XRP to Mysterious Wallets 


Ripple’s native token, XRP, has been on the move in the past 24 hours between wallets and crypto exchanges. Whale Alert, a leading whale tracking service, noted that 172 million XRP was transferred from two crypto exchanges to unknown wallets and vice versa on the previous day. 

More About the Transactions

The XRP transfer occurred in three separate transactions. 60.0 million XRP worth $22.47 million was sent from a mysterious wallet to the Bitstamp exchange in the first transaction.

Whale Alert noted that the Bitstamp exchange also sent 62.56 million XRP worth $23.43 million to a mysterious wallet a few moments later, making it the second transaction.

Lastly, according to the leading tracking platform, the exchange sent 50 million XRP worth $19.13 million to unknown wallets.

It is important to note that these exchanges have been transferring Ripple tokens to unknown wallets in the past.  For example, last week, 356 million XRP was moved between anonymous wallets and cryptocurrency exchanges, with Bitstamp being the major player in these transactions. 

It was expected to see Bitstamp as the leading player of recent whale XRP transactions, considering that Ripple’s former CTO Jed McCaleb sold most of his XRP allocation via the exchange.

Related: U.S. Residents Can Now Buy Ripple (XRP) Using Credit Card And ApplePay

Ripple Locks 700 Million XRP in Escrow

A large amount of XRP was unlocked and returned to Ripple’s escrow. So far, 900 million XRP were unlocked from an unknown escrow wallet yesterday. The transaction corresponds with the timing of the blockchain’s monthly token unlock initiative. 

Less than 24 hours after the nearly 1 billion XRP coins were unlocked, 700 million XRP have been locked back in escrow. And the funds were closed in two separate transactions, containing 300 million XRP and 400 million XRP, respectively. 

Read more: CrossTower Partners With Ripple to Offer NFTs on XRP Ledger.