Ripple Unlocks 100 Mln XRP, Community Expects Another Sell-Off to Come

On Tuesday, the price of the third largest coin, XRP, started surging, along with the rest of the crypto market, and briefly regained the $0.24 spot. At press-time, the coin is trading at $0.23 after a tiny slump. Still, CoinMarketCap is showing an XRP growth of 7.23 percent.

Meanwhile, Ripple has unlocked 100 mln XRP from its escrow wallet. Some in the community believe that price manipulation is taking place since the stash has been unlocked amidst a long-awaited price growth. The transaction was detected and reported by Whale Alert.

? ? 100,000,000 #XRP (23,823,138 USD) transferred from Ripple Escrow wallet to Ripple

Tx: https://t.co/0CPst6eHN1

— Whale Alert (@whale_alert) January 15, 2020

Ripple unlocks another large portion of XRP

100 mln XRP ($23,823,138) has been unlocked from Ripple’s escrow amidst the coin’s long-awaited price surge. In the past, the Ripple CEO Brad Garlinghouse assured the community that Ripple is unable to manipulate the XRP price and is not interested in keeping it low.

However, XRP holders in the comment thread seem to believe the contrary, fearing that another portion of XRP has been released to bring profit to Ripple without caring about what effect it may have on investors.

One of the users who responded negatively to this tweet, was @_Crypto_Maniac_. Previously, he had tweeted unconfirmed insider information that the XRP price is on its way to hit $50 soon.

Unconfirmed insider birdy told me $50+ SOON #XRP

— CryptøManiac101 (NOT GIVING AWAY CRYPTO) (@_Crypto_Maniac_) January 14, 2020

As reported by U.Today earlier, on January 1, Ripple unlocked a gargantuan amount of over 1 bln XRP. However, a large part of it was later returned to escrow.

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Bithumb moves 29 mln XRP

Meanwhile, Whale Alert has also spotted that 29,000,000 XRP ($6,767,373) was recently moved from the Bithumb exchange to a wallet with an unregistered owner.

29,000,000 #XRP (6,767,373 USD) transferred from #Bithumb to unknown wallet

Tx: https://t.co/11pHmlvvpx

— Whale Alert (@whale_alert) January 15, 2020

However, the bithomp.com website shows that this unknown wallet was activated by Bithumb as well. Contrary to the comments under the aforementioned tweet, this time XRP holders took it as a sign of a further pump coming.