Following Ripple’s monthly token unlock initiative, there has been a large movement of XRP in the last 24 hours.
According to data shared by popular cryptocurrency whale tracking service, Whale Alert, over 172 million XRP have moved from two crypto exchanges to unknown wallets and vice versa in the last 24 hours.
Details of the Transactions
These XRP movements occurred in three separate transactions. For the first transaction, a total of 60 million XRP worth $22.47 million was sent from an unknown wallet to the Bitstamp exchange.
? ? 60,000,000 #XRP (22,469,622 USD) transferred from unknown wallet to #Bitstamphttps://t.co/41YFgLVoZu
— Whale Alert (@whale_alert) August 1, 2022
A few moments later, Whale Alert shared another transaction detail, showing the movement of 62.56 million XRP worth $23.43 million from Bitstamp exchange to an unknown wallet.
? ? 60,000,000 #XRP (22,469,622 USD) transferred from unknown wallet to #Bitstamphttps://t.co/41YFgLVoZu
— Whale Alert (@whale_alert) August 1, 2022
Lastly, the popular cryptocurrency whale tracking platform also shared details of a transaction involving the movement of 50 million XRP ($19.13 million) from Crypto.com exchange to unknown wallets.
? 50,000,000 #XRP (19,135,498 USD) transferred from #CryptoCom to unknown wallethttps://t.co/mrdmIzxoyM
— Whale Alert (@whale_alert) August 2, 2022
Not New
This is not the first time that a large volume of XRP coins has been transferred from cryptocurrency exchanges to unknown wallets and vice versa.
Several of these transactions have been recorded in recent times. Last week, a total of 356 million XRP flowed between unknown wallets and cryptocurrency exchanges, with Bitstamp being the major player in these transactions.
It was expected to see Bitstamp as the main player of recent whale XRP transactions, considering that Ripple’s former CTO Jed McCaleb sold most of his XRP allocation via the exchange.
Ripple Locks 700 Million XRP in Escrow
Meanwhile, before these transactions took place yesterday, a large amount of XRP was unlocked and put back in Ripple’s escrow.
As reported by TheCryptoBasic, 900 million XRP were unlocked from an unknown escrow wallet yesterday. The transaction corresponds with the timing of Ripple’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.
The funds were locked in two separate transactions, containing 300 million XRP and 400 million XRP, respectively.
? ? ? ? ? ? ? ? ? ? 300,000,000 #XRP (113,172,119 USD) locked in escrow at unknown wallet https://t.co/2zp8U2yf5l
— Whale Alert (@whale_alert) August 1, 2022
? ? ? ? ? ? ? ? ? ? 400,000,000 #XRP (151,046,489 USD) locked in escrow at Ripple Escrow wallet https://t.co/6rEfzjiiDw
— Whale Alert (@whale_alert) August 1, 2022
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Source: https://thecryptobasic.com/2022/08/02/172-million-xrp-transferred-between-exchanges-and-unknown-wallets-as-ripple-locks-700-million-xrp-in-escrow/?utm_source=rss&utm_medium=rss&utm_campaign=172-million-xrp-transferred-between-exchanges-and-unknown-wallets-as-ripple-locks-700-million-xrp-in-escrow