Almost 890 Mln XRP Moved by Ripple to Anonymous Wallet That May Be Another Escrow

News
Tue, 06/09/2020 - 08:03
Yuri Molchan
Whale Alert shows that around eight hours ago, a jaw-dropping amount of XRP, totalling 890 mln, was transferred in six separate transactions
Cover image via stock.adobe.com
Contents

889.5 mln – this is the amount of XRP wired by Ripple in six separate transactions over the past eight hours, as reported by Whale Alert.

This is the second time Ripple has unleashed such a massive amount of its XRP coin. Previously, as ‘tradition’ has it, on June 1, the blockchain giant took one billion XRP from its escrow before putting 800 mln back.

Ripple moves 800 mln XRP, extra Ripple escrow suspected

800 mln XRP was sent from Ripple’s OTC distribution wallet to four different anonymous addresses. This gargantuan sum in crypto totals slightly over $162.32 mln.

In the comment thread, some users tweeted that this could be some crypto whale accumulating the fourth biggest currency by market cap.

Image via @whale_alert

The analytic site Bithomp shows that all the four addresses were activated by a RL18-VN user.

Image via Bithomp.com

Curiously, two years ago, user David Kaye wrote a blog post on eToro sharing data that Ripple had activated forty escrow wallets using the RL18-VN nickname.

Ripple moved 400 mln XRP to two of those wallets, splitting them in transactions bearing 200 mln each.

The author of the blog post assumes that Ripple might be locking up this crypto for use at a later date.

Image via etoro.com/posts

Related
Veteran Trader Peter Brandt: 'XRP Is Manipulated Scam'

89.5 mln XRP sent prior to that

Before transferring the 800 mln XRP, Ripple wired 89.5 mln XRP ($18,207,566) to wallets with unregistered owners.

The Bithomb website shows that 49 mln XRP went to the institutional custodial service BitGo and 40 mln XRP  was again sent to a wallet set up by the aforementioned RL18-VN user.

Image via @whale_alert

 

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


Articles by author

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings