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Ripple Transferring 1 Billion XRP From Its Escrow Wallet

Minh Nguyen

Summary: According to Whale Alert, the live tracker for cryptocurrency transactions, Ripple made a transfer of 1 billion XRP tokens from its escrow wallet on December 2.  Surprisingly, the company transferred the exact same amount of tokens back into escrow shortly after moving it away. This is not the first time Ripple has executed such massive ...

According to Whale Alert, the live tracker for cryptocurrency transactions, Ripple made a transfer of 1 billion XRP tokens from its escrow wallet on December 2. 

Surprisingly, the company transferred the exact same amount of tokens back into escrow shortly after moving it away. This is not the first time Ripple has executed such massive transactions. It has raised concerns among the Ripple community as people fear that Ripple is dumping its coin and the token’s price will crash. In response to this issue, Ripple insists that the company is only selling XRP so that it can fund its own operations and invest in firms that can help grow its ecosystem. 

By Minh Nguyen

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