Usman Salis
Ripple moved over $2 billion worth of XRP in three huge transactions, locking 700 million tokens in escrow. XRP price bounced back toward $3 after yesterday's 4.17% drop.
Ripple's Massive XRP Escrow Operation
Whale Alert spotted Ripple making three giant moves: 100 million XRP, 500 million XRP, and another 100 million XRP - all locked in escrow accounts. That's over $2 billion in total value.
This follows Ripple's monthly pattern of unlocking 1 billion XRP and locking back about 80%. They've shifted timing from the 1st to the 2nd-3rd of each month this year. Today's August 2nd, right on schedule.
Before the lockup, two other big transfers happened: 200 million XRP ($591,867,292) and 300 million XRP ($886,312,662) moved to Ripple from unknown wallets, likely part of the escrow setup.
XRP (Ripple) Price Recovery After Market Drop
This week hit crypto hard. Fed Chair Jerome Powell said Wednesday that interest rates won't drop, sending Bitcoin and everything else down. XRP lost over 10% since Wednesday's $3.32 high and dropped 4.2% Friday.
Today XRP tried a comeback with a 3.35% bounce that briefly pushed it above $3, but it slipped 1.28% from those highs.
XRP Outlook
XRP is currently trading at $2.98. With $2 billion worth of tokens now locked away, this massive escrow move could help stabilize the price and give it support to hold above the $3 level as markets digest Powell's comments.
Usman Salis
