XRP News: Ripple's 1 Billion Move Sparks Speculation

In the latest XRP news, Ripple has once again stolen the spotlight with a massive 1 billion XRP move. The blockchain firm transferred the tokens across multiple wallets

The latest XRP news today centers around Ripple’s massive 1 billion XRP move, which was executed in multiple transactions.

According to data from Whale Alert, the blockchain company transferred 300 million XRP, valued at $629 million, from its main wallet (26) to the “rBg…91m” address.

Later, another 200 million XRP, worth $420 million, was sent to the “rKD…2op” wallet.

Interestingly, the “rKD…2op” wallet later received 170 million XRP in a separate transaction from the Ripple (27) wallet.

Soon after, 330 million XRP was transferred to the “rDd…eCK” address, marking its first transaction since March.

Together, these movements totaled 1 billion XRP.

However, despite moving a massive sum, Ripple locked 700 million XRP back into escrow accounts.

The “rKD…2op” wallet, which received 370 million XRP, locked the entire amount in escrow shortly after the transactions.

Similarly, the “rDd…eCK” wallet re-locked all 330 million XRP it received. This brought the total escrowed amount to 700 million, leaving 300 million XRP untouched. Currently, the wallet “rBg…91m” holds these funds, likely for operational liquidity.

These latest transfers drew attention mostly due to the absence of the expected 1 billion XRP escrow release in April.

Usually, Ripple releases 1 billion XRP on the first day of each month before re-locking a part of the locked amount. However, no such event has been witnessed this month yet.

However, with these latest transfers, speculations are high on the potential reason behind the move. Besides, the discussions further amplified as the Ripple Vs SEC case is likely to end in August.

Meanwhile, amid the transfer, XRP price today slipped 3% to $2.12, while its one-day volume fell 11% to $3.83 billion. Besides, a recent report indicates that Ripple’s coin price may slip to $1.5 if it loses critical support ahead.