Ripple and Exchanges Wire 313 Million XRP, While Locks 800 Million XRP in Escrow

According to the Whale Alert Twitter account, large XRP moves between exchanges continue, while Ripple has locked the remaining previously released funds back in escrow. Ripple and a few large digital exchanges, including two Ripple ODL corridors in Latin America and Asia, have moved over 313 million XRP.

Ripple and Exchanges move 313.1 million XRP

The aforementioned massive crypto transfer tracker has recorded 7 transactions totalling 313.1 million XRP coins. These XRP amounts were traded between the world’s largest crypto exchanges. Bittrex, based in the United States, has been the most active here. Binance, Coinone, and Bitstamp have also participated.

The Ripple fintech powerhouse transferred $75 million between internal wallets and sent 30,000,000 coins to Coins.ph, its ODL corridor in the Philippines. Bitso, another Ripple corridor, got 40,000,000 from Bittrex and transferred 32,500,000 internally. According to CoinMarketCap data, the 7th largest cryptocurrency by market capitalization, XRP, is trading at $0.8475 at press time, up 3.66 % in the previous 24 hours.

Ripple locks 800 million back in escrow

Following the programmed release of a billion XRP on April 1st, as has been done since 2017, Ripple DLT service provider has returned 800 million XRP to escrow, locking them up until May 1st. The remaining 200 million XRP will be put into the market and used to fund the company’s operating expenses as well as to maintain XRP liquidity on numerous exchanges.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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