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Ripple’s Cryptic XRP Transfer Hint at Massive Sell-Off – What’s Next?

Ripple’s monthly release strategy saw significant XRP transfers between wallets before a scheduled unlock. This was evident from the unusual transaction activities during the unlocking of 1 billion XRP for the month.

Additionally, Ripple moved 200 million XRP from a dormant wallet to its spendable one, increasing total inflows to 400 million XRP. Now, the big question is: What does Ripple intend to do with this substantial reserve of XRP?

Unlocking Of 1B XRP Token

On June 1st, Ripple initiated significant XRP transfers between various wallets ahead of a scheduled unlock. Initially, the crypto tracking platform Whale Alert reported, that 200 million XRP, valued at approximately $104.1 million, was transferred from the “Ripple 24” wallet to Ripple’s primary operational wallet, “Ripple 1.” 

Moments later, another transfer from the same source wallet sent 300 million XRP, worth $156 million, to the “Ripple 13” wallet.

Following these initial transfers, Ripple continued its activity by moving 500 million XRP, equivalent to approximately $259,851,912, from the “Ripple 25” wallet to the “Ripple 12” wallet. These maneuvers were executed before Ripple’s official escrow execution for June. 

Ripple Locks 800M XRP

Continuing its monthly release strategy, Ripple has locked 800 million XRP into the Escrow wallet. Meanwhile, in a series of transactions, Ripple locked the 500 million XRP received in “Ripple 12” and the 300 million XRP in “Ripple 13” into escrow.

These pre-escrow transactions indicate Ripple’s strategic management of its XRP holdings, ensuring the necessary liquidity and operational efficiency while adhering to its scheduled escrow plans.

What’s With Remaining 400 XRP

Ripple has been active with its XRP stash, making some notable moves. Initially, they locked away a substantial 800 million XRP. Following this, they transferred 200 million XRP from one wallet to another.

Now, people are wondering about Ripple’s plans for its 400 million XRP stash. These actions show Ripple’s strategy for managing its XRP, aiming for stability and growth in the cryptocurrency world. Given past actions post-escrow unlocks, where Ripple liquidated similar amounts, the possibility of a significant sell-off looms.

XRP Price Performance

As of now, XRP has shown strong resilience, with its price rising by 3.77% to $0.52. However, the trading volume surged by 12.39% to $1.06 billion over the last 24 hours, and its market cap reached $29 billion. 

During this period, XRP’s price fluctuated between $0.502 and $0.520, indicating its volatility amidst ongoing market dynamics.

Also Check Out : DWF Labs Injects $12 Million in FLOKI Token for Metaverse Project; Price Soars 14%

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