1 Billion XRP Tokens Transferred to Ripple

According to data provided by Whale Alert, a service that makes it possible to track down abnormally large cryptocurrency transfers, a total of a billion XRP tokens were recently sent to Ripple from unknown wallets.

The service reported four separate transactions with 430 million, 300 million, 200 million and 70 million tokens. The transfers were leveraged by some XRP detractors to highlight the token’s ties to Ripple Labs.

Ripple CEO Highlights Ripple’s Most Recent Big Milestones “As of 2020, according to the SEC complaint, Chris Larsen and Brad Garlinghouse had personally made $600mm from dumping on retail. The number is probably higher now. XRP product market fit is a uniquely terrible thing,” Juthica Chou, the head of OTC options trading at Kraken, said.

That said, the recent transfers are most likely related to XRP’s monthly escrow unlocks given that the total sum is 1 billion tokens. This appears to fully align with the company’s monthly release schedule.

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