Ripple Moves 3 Billion XRP in 30 Minutes

XRP Technical Analysis: Insights from Market Expert

Ripple moved 3 billion XRP, or 5.4% of the circulating supply, across eight transactions in just 30 minutes. This significant movement, tracked by crypto monitoring resource Whale Alert, is part of Ripple’s routine escrow executions and creations. Prominent crypto commentator Marty Party highlighted the fund flow, which totaled over $1.5 billion.

Details Of The XRP Transactions

The first transaction occurred at 21:30 UTC on June 1, moving 200 million XRP between Ripple wallets. Four minutes later, the same address transferred another 300 million XRP to a different wallet, totaling 500 million XRP. At 21:38 UTC, another Ripple address moved 500 million XRP to a company-affiliated wallet. 

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Three minutes later, this recipient address locked the 500 million XRP in escrow, increasing the total volume moved to 1.5 billion XRP. Subsequently, the address that initially received 300 million XRP locked up all 300 million tokens.

Escrow Actions And Additional Transfers

By this point, Ripple had moved 1.8 billion XRP, with 800 million tokens locked in escrow, without releasing any tokens for June. After these lockups, the firm transferred 200 million XRP to another wallet, raising the total volume to 2 billion tokens. At 21:55 UTC, Ripple unlocked the first 500 million XRP from escrow. 

Related article: XRP Set for Significant Rally: Analyst Highlights Key Bullish Pattern

Three minutes later, Ripple unlocked another 500 million XRP, bringing the total volume moved to 3 billion XRP between 21:30 and 21:58 UTC on June 1. This significant movement is the second time Ripple has unlocked all 1 billion XRP from escrow on the first day of the month. Since February, Ripple has usually released only 500 million tokens on the first day. Sometimes, it releases an additional 500 million later, but occasionally it does not execute the second batch. For example, last month Ripple released 500 million XRP on the first day, two hours after midnight. 

Although it locked back 800 million tokens, the second batch of 500 million XRP was not executed until three days later.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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