The seventh most valuable crypto by market cap recently had $1 Billion XRP, unlocked some hours ago from Ripple’s escrow wallet.
According to data collated from Whale Alert, a leading crypto analytic tracker, the blockchain behemoth, unlocked a whopping $1 Billion XRP worth about $704 Million, in two the crypto markets.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 500,000,000 #XRP (352,173,300 USD) unlocked from escrow at Ripple Escrow wallethttps://t.co/G8vcLkMcND
— Whale Alert (@whale_alert) July 1, 2021
Ripple has released its regular 1,000,000,000 XRP in two transfers of 500 Million each. Ripple continues to do this even while fighting a legal battle against the US Security & Exchange Commission (SEC). The SEC filed suit against Ripple on Dec. 22, 2020, the day before former Chairman Jay Clayton’s resignation. Some crypto analyst noticed the timing, calling the lawsuit politically motivated.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 500,000,000 #XRP (352,173,300 USD) unlocked from escrow at Ripple Escrow wallethttps://t.co/1c0SAIM15k
— Whale Alert (@whale_alert) July 1, 2021
The crypto giant recently appointed a former Mastercard executive, Sendi Young as Managing Director of its European Base. Ripple is looking to expand the company’s global financial network platform, prominently referred to as RippleNet. Through the On-Demand Liquidity (ODL) service, RippleNet leverages the digital asset XRP as a bridge between two currencies, allowing you to eliminate pre-funding of destination accounts, reduce operational costs and unlock capital.
