Ripple Releases 1 Billion XRP, But It’s Not What You Think
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- Ripple released 1B XRP as part of its monthly escrow procedure.
- The release followed unusual transaction patterns, moving XRP between multiple wallets before the official unlock.
- Ripple re-locked 800 million XRP shortly before the official escrow release.
Ripple, the prominent American crypto payment company, has released 1 billion XRP tokens into the market as part of its monthly escrow procedure. The transaction monitoring service Whale Alert highlighted Ripple’s escrow activity in several updates on platform X.
Blockchain records from XRP Explorer confirmed that the release occurred on June 1. The 1 billion XRP was distributed in two separate transactions, each consisting of 500 million XRP, at 09:55 PM UTC, with a three-minute interval between each transaction.
However, Ripple’s release of 1 billion XRP this month exhibited an unusual pattern. Examination of the blockchain data revealed that Ripple initially transferred 500 million XRP from its “Ripple 24” wallet to two separate wallets.
In a similar fashion, it transferred another 500 million XRP from “Ripple 24” to a different wallet labeled “Rippl…
The post Ripple Releases 1 Billion XRP, But It’s Not What You Think appeared first on Coin Edition.
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