Cryptocurrency tracker Whale Alert has detected three large transactions carried out by Ripple, totaling over $2 billion.
Three Major Transactions by Ripple
In recent hours, Whale Alert observed three large XRP transactions made by Ripple worth 100,000,000 XRP, 500,000,000 XRP, and 100,000,000 XRP. The total value of these transactions amounted to $2.078 billion.
Escrow and XRP Unlocking
Traditionally, at the beginning of each month, Ripple unlocks 1 billion XRP from escrow and subsequently returns about 80% of that amount. Currently, in August, this process involved unlocking and returning part of the XRP to the accounts.
XRP's Recovery After Decline
This week, the cryptocurrency market faced a decline following the announcement by Federal Reserve Chair Jerome Powell that interest rates would remain at the current level. XRP has fallen over 10% from a local high of $3.32, but is showing signs of recovery, briefly reaching $3 again.
Ripple continues to effectively manage its assets, reflecting both internal strategies and external market conditions. Following recent fluctuations, XRP is showing signs of recovery.
