Shift

Million

<p>The post <a href="https://coinpedia.org/news/ripples-strategic-escrow-locking-800-million-xrp-in-a-surprising-shift/">Ripple Locks 800 Million Tokens in Escrow: Bullish Move for XRP Price?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ripple, a major player in crypto payments, made a surprising move by locking 800 million <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP</a> in escrow accounts on March 1. As reported by Whale Alerts, this strategic decision was implemented through three transactions.</p> 
<figure class="wp-block-embed is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> 100,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (59,486,782 USD) locked in escrow at <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a><a href="https://t.co/KACz527DPn">https://t.co/KACz527DPn</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1763638337556840560?ref_src=twsrc%5Etfw">March 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>What implications could this have for you? Read on to find out. </p> 
<h2 class="wp-block-heading" id="h-understanding-the-transactions"><strong>Understanding the Transactions</strong></h2> 
<p>In the first-ever incident, the first transaction <a href="https://x.com/whale_alert/status/1763637985545793624?s=20">involved </a>locking 100 million XRP, valued at $59.48 million, followed by another 200 million XRP, worth $118.94 million, in the escrow wallet. Simultaneously, Ripple <a href="https://x.com/whale_alert/status/1763638576594456943?s=20">secured </a>the last batch for March 2024, amounting to 500 million XRP, valued at $297.65 million.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f512.png" alt="🔒" class="wp-smiley" style="height: 1em; max-height: 1em;"> 200,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (118,947,658 USD) locked in escrow at <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a><a href="https://t.co/GBbwE3OnK3">https://t.co/GBbwE3OnK3</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1763637985545793624?ref_src=twsrc%5Etfw">March 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Read More: <a href="https://coinpedia.org/news/ripple-vs-sec-here-are-key-dates-that-to-watch-which-will-change-the-course-of-this-trail/">Ripple vs SEC: Key Dates to Watch for the Remedies Brief</a></p> 
<h2 class="wp-block-heading" id="h-ripple-s-unusual-move"><strong>Ripple’s Unusual Move</strong></h2> 
<p>Initially missing the 1 billion <a href="https://coinpedia.org/news/unraveling-allegations-of-ripples-xrp-price-surge-using-bot-manipulation-claims/">XRP unlock,</a> the Whale Alert later revealed the release of 500 million XRP on March 1. Notably, a significant unlock attempt the day before faced a transaction error, adding intrigue to the unfolding situation.</p> 
<p>The lingering question is whether Ripple plans to unlock the remaining 500 million XRP later in the month to meet the scheduled 1 billion release. This echoes a similar incident in February, where Ripple faced a challenge but resolved it before the month’s end.</p> 
<h2 class="wp-block-heading" id="h-experts-weigh-in"><strong>Experts Weigh In&nbsp;</strong></h2> 
<p>Pro-XRP lawyer Bill Morgan weighed in on Ripple’s escrow locks, shaping community sentiment. The positive trading of Ripple-backed XRP coincided with the significant token lock, fueling debates. Morgan suggests that derivatives data is contributing to speculation around XRP’s recent surge past $0.62, attracting global attention.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/ripple-price-prediction-heres-when-xrp-price-will-hit-1/">Ripple Price Prediction: Here’s When XRP Price Will Hit $1</a></p> 
<p>As the crypto community eagerly awaits Ripple’s next steps, understanding how XRP tokens are locked and unlocked provides insights into Ripple’s management strategy. Ripple’s actions in the coming days will impact market sentiment and reveal its plans for XRP distribution.</p>

Ripple Locks 800 Million Tokens in Escrow: Bullish Move for XRP Price?

Table of Contents

CoinPedia News

Other articles published on Mar 2, 2024

Centrifuge (CFG) price ready for parabolic rally, top analyst says

Dookey Dash Unclogged Pre-register is now Open!

Chainlink (LINK) & Polkadot (DOT) Investors Rush To Buy Kelexo (KLXO) As Presale Tipped to 30X in...

The Monthly Stablecoin Report: Top Trends and Performers You Need to Watch

Green Bitcoin is Ready for a 30X Surge – Can the New Crypto Coin Join Top 50 in 2024?

Tokenized Real Estate Platform Blocksquare Lists BST Token on Gate.io Exchange

Join our free newsletter for daily crypto updates!