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Ripple and Chris Larsen Shift Whopping 1.5 Billion XRP While Coin Holds at $0.65

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Tue, 12/01/2020 - 09:24
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Yuri Molchan
Ripple has released 1 billion XRP from escrow while Chris Larsen and Ripple Genesis Wallet have parted with almost half a million XRP as the coin holds at the $0.65 level
Ripple and Chris Larsen Shift Whopping 1.5 Billion XRP While Coin Holds at $0.65
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One billion XRP has left Ripple's escrow wallet, as usually happens on the first day of each month. Aside from that, Ripple and its former CEO Chris Larsen have shifted almost half a million XRP, while the coin's exchange rate remains at the $0.65 level.

All in all, Ripple has transferred a whopping 1.5 billion XRP, which constitutes roughly $933 million.

Ripple unlocks 1 billion XRP onto the market

Earlier today, blockchain giant Ripple made two major transfers from its escrow wallet500 million XRP eachaccording to popular tracking service Whale Alert.

XRP
Image via Twitter

This has been happening since 2017 and is already a well-established habit. Previously, after each release on the first day of every month, around 800 million coins were sent back to escrow to be locked.

The total amount of XRP kept in escrow at the moment totals 48.3 billion, minus one billion unlocked today.

The total amount of XRP held by Ripple is 6,356,552,808, as per data from the Ripple website.

XRP
Image via Ripple.com

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Chris Larsen and Ripple shift 453 million XRP

Whale Alert spotted another jaw-dropping amount of XRP shifted by Ripple and its former CEO Chris Larsen, who is currently the company’s executive chairman.

Larsen conducted four transactions from his personal wallet, carrying 10 million and 24 million and two wires worth 100 million XRP each, according to Whale Alert and XRPL Monitor.

Two transfers, bearing 116.5 million and 102 million coins, were conducted from Ripple's Genesis Walletone of the 100 wallets that was set up at the dawn of the company, as prominent XRP fan @galgitron explained in the comment thread.

XRP trades at $0.66

After XRP shot to the high of $0.78 a week ago and reclaimed its Top 3 spot from USDT on the CoinMarketCap scale, the coin has now reached the $0.66 level, rising from $0.60 after a decline.

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About the author

Yuri is a crypto 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 in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.