AltcoinCryptocurrency

Ripple Again moves 500M XRP from Escrow to its Official Wallet

The Ripple company continues the movement of XRPs as the Whale Alert has confirmed that Ripple has again transferred 500M XRP from its Escrow wallet to the Official wallet of Ripple.

Recently the company had moved 522 Million to an unknown wallet and now we have seen another transfer blow from the company.

It was stated by the Ripple that the company would only move 1B every month from its Escrow wallets but now it has just sent $130 Million coins into the official wallet of the company.

The news was reported by Whale Alert in the following tweet:

A Bitcoin investor, financial analyst, and a co-founder and CIO at Altana Digital Currency Fund (ADCF), Alistair Milne shows its abrupt behavior when she heard the news of Ripple’s amount transfer.

Biggest Loser of 2019

The Ripple has earned it fame due to this act being the biggest loser of 2019 among the top ten digital cryptocurrencies in the market capitalization. Because investors have been dumped by the company and they are now giving for it.

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Since the first quarter of 2019, the Ripple’s team has boosted up the transfers of its token. This put the company under questioning by Bloomberg.

A research director at Messari, Eric Turner discusses this scenario with Bloomberg and says that:

Last quarter’s $251.5 million was up almost 50% from the $169.4 million sold in Q1.

The co-founder of Coin Metrics, Nic Carter does not find any compatibility on the two occasions between the real amount of XRP and the reported figures.

Investors are wondered

This movement of XRPs has left investors and trader wondered because the company just recently moved 522M coins and now suddenly again it has transferred 500M XRP from escrow wallet to its official account. After that, the amount of 1B was also picked from the escrow wallet.

Davis Byrne (US)

Davis Byrne got into the cryptocurrency world in 2013. He contributes technical chart-based price updates and price analysis on the world's leading digital currencies.

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