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Roughly nine hours ago, Ripple made a withdrawal of another one billion XRP lump from escrow, following its regular programmed schedule of releasing 55 billion XRP since 2017.
Ripple moves another billion XRP, adding part of it into circulation
Whale Alert has shared that Ripple fintech heavyweight has unleashed one billion XRP coins from escrow as the first day of another month has arrived. Most of this crypto will be locked back in, however.
Around 200 million XRP will actually be added to the circulating amount of this Ripple-affiliated cryptocurrency.
The XRP was released in two lumps of 500 million XRP each; in all, this sum in crypto comprises approximately $780,000,000.
When these large XRP releases kicked off, some in the XRP Army were afraid they would hold the token's price down. A petition was started on Change.org to urge Ripple to stop those regular movements of crypto. However, as time went by, it turned out that the price was not impacted by these actions of Ripple Labs.
Anon wallets and exchanges move 222 million XRP
Whale Alert also spread the word that a total of 222,000,000 XRP were transferred by several wallets tagged by the crypto tracker as "unknown" and by several crypto exchanges.
However, analytics shared by Bithomp XRP-centered data aggregator shows that these unknown wallets also belong to that crypto exchange. Thus, the largest transaction here, 152,027,860 XRP, was made by Binance internally. This sum in XRP is the equivalent of $118,621,930.
Smaller transactions were pulled off by Bittrex, Bitso and Bithumb. They moved a total of 70 million coins, consisting of 20 million, 20 million, 13 million and 17 million XRP.
? ? ? ? ? ? ? ? ? ? 152,027,853 #XRP (118,621,924 USD) transferred from unknown wallet to #Binancehttps://t.co/KqPfB6fUsM
— Whale Alert (@whale_alert) March 1, 2022
XRP recovering along with the market
In the meantime, the cryptocurrency market has made a U-turn and entered the green zone: most of the largest 100 cryptos are rising, following the spike of the Bitcoin price, which started yesterday and continued today.
On Monday, the flagship cryptocurrency surpassed the $40,000 level, and today it moved higher to touch $44,000 briefly and then make a small pullback.
Ripple-affiliated crypto XRP is changing hands at $0.7707, as per CoinMarketCap, surging 6.43% over the past 24 hours and rising almost 12% in the past seven days.
Gamza Khanzadaev
Denys Serhiichuk
