HomeNewsRipple Sheds 100 Million XRP Amid Crypto Market Collapse: Is a Sell-Off...

Ripple Sheds 100 Million XRP Amid Crypto Market Collapse: Is a Sell-Off Imminent?

- Advertisement -
  • Ripple transfers 100 million XRP amidst a notable market price crash.
  • The majority of the moved XRP lands in four prominent centralized exchanges.

Deciphering Ripple’s 100 Million XRP Journey

As the cryptocurrency sector faced tumultuous waves with a market-wide price dip on September 11, Ripple‘s strategic movements caught the attention of many. From its recent 1 billion XRP token unlock in September, the company chose to transfer a whopping 100 million XRP. The series of transactions gives rise to the speculation that a considerable amount of these tokens have been sold, especially given that the majority ended up in recognizable centralized exchange addresses.

Diving deeper into the XRP‘s journey, out of the initially unlocked 1 billion XRP, Ripple re-locked 800 million into new escrows, holding back 200 million tokens in the “Ripple (1)” account. This reserve ostensibly was to be gradually introduced into the market using XRP’s inherent supply inflation strategy.

Tracing the Ripple Effect

- Advertisement -

On September 11, a transaction of 100 million XRP was initiated from the “Ripple (1)” account to an unidentified address. Subsequent rapid transfers followed this, where the tokens traversed through multiple addresses. At one juncture, 28 million XRP remained in one account while a significant 72 million was transferred to another. This 72 million batch of XRP then saw itself being shuttled between various addresses in quick succession.

The climax of this digital ballet culminated with the 72 million XRP eventually being dispatched to four distinct known centralized exchange addresses:

>> Buy XRP quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with XRP now. Visit Website <<

  • Bitstamp garnered 39.875 million XRP.
  • Bitso was credited with 22.78 million XRP.
  • Independent Reserves received 8.65 million XRP.
  • BTC Markets saw an influx of 500,000 XRP.
- Advertisement -

The sum of these transactions, 71.805 million tokens, landing in the coffers of centralized exchanges typically indicates a move to sell. Moreover, a separate address got credited with 925,000 XRP.

Interestingly, the speed at which these transactions occurred, coupled with an unexpected transfer between certain addresses, gives rise to speculation that all involved addresses might be operated by a single entity. However, without concrete evidence, such an assertion remains in the realm of speculation.

Best Crypto Exchange for Everyone:

  • Invest in Ripple (XRP) and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
- Advertisment -spot_img