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Fearful Mobility in Ripple: Hundreds of Millions of XRP Flows into Mysterious Wallets!

Fearful Mobility in Ripple: Hundreds of Millions of XRP Flows into Mysterious Wallets!

While XRP traders are waiting for cryptocurrency to recover from the downward trend, Ripple is launching another 1 billion XRP to the market. It is also stated that Ripple has recently transferred hundreds of millions of XRPs to an unknown wallet. Can these XRPs create a new wave of sales?

Ripple takes another 1 billion XRP to the market!

Ripple’s monthly XRP sales movement continues, and the San Francisco-based company will soon unlock 1 billion XRP worth $ 177.6 million from escrow. Ripple owns more than half of the total XRP supply. In December 2017, Ripple promised not to release all of its tokens to the market at once, and in this context locked 55 billion XRP into a secure escrow account.

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The company then released a billion XRP every month, preparing a sales program to sell some of them to finance their operations and invest in ventures, and to send the rest back to safety. Whale Alert tracked recent moves in two separate transactions, each containing 500 million XRP. According to Whale Alert, Ripple recently transferred 30 million XRP worth about $ 5.3 million to an unknown wallet.

Ripple has sent hundreds of millions of XRPs to the mysterious wallet!

The mysterious wallet received a large number of payments from Ripple on June 25, including $ 20 million XRP , worth approximately $ 3.56 million : June 16, 30 million XRP, on June 8, about $ 7.1 million, 40 million XRP. and received 30 million XRP on June 2, according to Bithomp. The wallet currently has 20 million XRP balances. In the first quarter of 2020, Ripple sold $ 1.75 million in cryptocurrencies directly on XRP.

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This figure is 86% lower compared to the US $ 13.08 million in the previous quarter. Ripple sold zero XRP to exchanges, usually in programmatic cryptocurrency sales. Due to the reactions, Ripple has slowed down cryptocurrency sales significantly since the third quarter of 2019, when it sold $ 251.51 million in XRP. In December, Ripple raised $ 200 million on his company’s $ 10 billion funding round.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

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