Ripple Moves 70.1 Mln XRP as Coin’s Fan States XRP Price Is Up 25% in 2020

News
Tue, 03/03/2020 - 10:02
Yuri Molchan

Blockchain behemoth Ripple has transfered just over 70 million XRP after previously releasing one billion XRP from its escrow wallet

Cover image via www.shutterstock.com
Contents

The XRPL Monitor account has detected several consecutive transactions totaling 70,139,458 XRP. That equals $39,993,038 USD.

Prior to that, on March 1, the blockchain giant Ripple unleashed one billion XRP from its escrow wallet, as reported by U.Today.

Ripple sends away 70,1 mln XRP

Five consecutive transactions were detected by the Twitter bot XRPL Monitor, in which Ripple transferred slightly over 70 million XRP.

Image via Twitter

Information from the Bithomp site, which provides data on XRP transfers, shows that 19.3 mln XRP was moved to a BitGo wallet.

The rest of the 70.1 mln XRP was sent between addresses belonging to Ripple itself.

A few days ago, Ripple moved 1 bln XRP from its escrow storage. However, later on, 900 mln XRP was sent back to escrow.

Related
Ripple Strikes Partnership with Major UAE Bank

‘XRP is 25% up this year’

Recently, an article in the Financial Times revealed that XRP sales actually make up a significant portion of Ripple’s income and that the crypto giant would continue at a loss if it didn't gradually sell the coins it holds.

Some in the XRP community commented, saying this is quite natural, since Ripple targets banks, so institutional investors want to buy XRP.

Many in the community, however, criticize Ripple for constant XRP sales, claiming it prevents the coin’s price from rising.

Meanwhile, an XRP community member @RobertArtRobArt has tweeted that so far this year, XRP has surged 25 percent.

Earlier this year, in January, XRP surged from under the $0.20 price level and managed to break past $0.30. That did not last long, however, as at the time of writing, the third-largest currency is trading at $0.2357, showing a 1.23-percent increase, as per CoinMarketCap.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

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.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020

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