Leading crypto asset XRPsparked speculation in the broader crypto market on Thursday following two notable escrow locks and two significant whale transactions.
According to on-chain data, a staggering 867.6 million XRP were in motion today, attracting huge global attention. While 800 million tokens of these XRPs were placed in escrow, 67.6 million XRPs were left to CEXs. Meanwhile, the XRP price also jumped today in parallel with the significant locking of custodial XRP in Ripple.
Tokens Lock Up Amid Rising Whale Movements
In the first transaction, it was seen that 300 million XRP was locked in escrow in Ripple by the address r9U…iYp. In the other transaction, the rB3…cPn address locked 500 million XRP in escrow at Ripple. Locked XRP tokens totaled $404.86 million at the time of writing. crypto- It attracted the attention of traders and investors in the market.
On the other hand, XRP transfers to CEXs Bitstamp and Bitso appear to have generated additional implications on the crypto horizon. According to data from Whale Alert, wallet address …Rzn shifted 67.6 million XRP to the aforementioned CEXs in two transaction series.
First, the address shifted 37.9 million XRP to Bitstamp, a CEX based in Luxembourg City, while in another transaction it moved 29.7 million XRP to Bitso, a CEX based in Mexico City. Interestingly, these transfers to Bitstamp and Bitso have emerged as a recurring phenomenon recently, following Ripple’s strategic acquisition of stakes in the aforementioned CEXs.
Koinfinans.com As we reported, at the time of writing this news, the XRP price has increased by a significant 2.04% in the last 24 hours. It is currently trading at $0.506. However, the weekly chart showed a decline of 1.54%, accompanied by a monthly decline of 20.31%.
In particular, today’s price rise appears to be consistent with XRP being largely locked in escrow on Ripple, as the tokens are removed from the total circulating supply until certain conditions are met. Meanwhile, XRP Whale, a famous crypto market enthusiast, stated, “XRP is about to go to the moon,” adding to market optimism for the Ripple-backed token.