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TimesTabloid 2025-02-03 05:35:09

2.2 Billion XRP In 24 Hours. Here’s What Happened Before XRP Crashes to $2.5

2.2 Billion XRP In 24 Hours. Here’s What Happened Before XRP Crashes to $2.5

XRP is currently ranked fourth by 24-hour trading volume. These whale and escrow transactions contributed greatly to this. After a few days of silence in the XRP market, Whale Alert reported significant XRP escrow movements for February and listed multiple whale transactions involving Ripple and multiple unknown wallets. A total of 500 million XRP was unlocked from escrow, with 100 million XRP, valued at approximately $283.89 million, being released first, and another 400 million XRP, worth about $1.13 billion, unlocked from escrow shortly after. A few hours before these transactions, Ripple locked substantial amounts back into escrow. A total of 700 million XRP was locked back, with 430 million XRP, valued at $1.27 billion locked first, and 270 million XRP, worth approximately $796.96 million secured shortly after. Ripple unlocked 500 million XRP instead of its usual 1 billion XRP unlock. This mirrors escrow unlock errors from early 2024, which plagued the company’s escrow transactions for four months. However, Ripple often unlocks an additional 500 million later in the month to complete its escrow commitment. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Whale Movements in the XRP Market Beyond escrow transactions, Whale Alert detected multiple large XRP transfers involving unknown wallets and Ripple. One of the largest movements involved 430 million XRP, valued at approximately $1.27 billion, transferred from an unknown wallet to Ripple. This was preceded by another major transfer of 200 million XRP, valued at $588.76 million. Ripple also received a transfer of 299.99 million XRP, worth around $882.64 million, and a transfer of 70 million XRP, worth approximately $206.5 million, from unknown wallets. These large inflows to Ripple suggest potential liquidity management or preparations for operational use. They might also involve some of Ripple’s many On-demand Liquidity (ODL) partners worldwide or similar institutional partners that utilize XRP. What’s Next for XRP? Approximately 2.2 billion XRP tokens moved in under 24 hours, drawing attention from the broader market to the XRP ecosystem. However, this has not helped the digital asset’s price, as a wider market downturn sent it below $3, pushing it to $2.51, its lowest level since mid-January. The digital asset has recovered slightly and is now trading at $2.58. Despite the decline, whales have been preparing for a big move since late 2024, and many market participants are still confident that a swift recovery is coming. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post 2.2 Billion XRP In 24 Hours. Here’s What Happened Before XRP Crashes to $2.5 appeared first on Times Tabloid .

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