- 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.
Ripple 1B XRP unlock from escrow | Whale Alert
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 “Ripple 12.” These transfers, totaling 1 billion XRP, took place prior to the formal escrow unlocking for June.
As a result, Ripple’s June escrow release has garnered considerable interest within the cryptocurrency community. Some have mistakenly associated the initial XRP distribution with large-scale purchases by major investors. Others found the claim of a billion-dollar XRP purchase contradictory, as XRP’s market value exhibited bearish volatility during this period.
Meanwhile, Ripple has returned 800 million XRP to escrow, following its customary practice over the past few months. This re-locking occurred in two transactions of 500 million and 300 million XRP each. Ripple locking 800M XRP back in escrow
Ripple locking 800M XRP back in escrow
Interestingly, blockchain data reveals that the re-locking of 800 million XRP preceded the release of 1 billion XRP. Specifically, the re-escrowing transactions were timestamped between 09:41 and 09:45 PM UTC, while the official escrow unlocking occurred ten minutes later.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
