April has witnessed unusual activity by Ripple with substantial XRP transactions, despite the absence of scheduled token release from escrow.
No Escrow Release Yet, but Massive Whale Movements
Ripple’s escrow system, which typically releases 1 billion XRP at the beginning of each month, did not trigger any unlocks for April. This deviation from the standard routine has raised questions within the crypto community, as similar delays have been observed in the past. Despite the lack of escrow unlocks, Ripple has continued its routine high-value transfers. According to blockchain tracker Whale Alert, the company initiated the movement of 500 million XRP, distributing the funds across different wallets.
Breaking Down Ripple’s 1 Billion XRP Transfers
The first transaction involved transferring 300 million XRP from the Ripple (26) wallet to the address 'rBg…91m' at 03:06 UTC. Three minutes later, another 200 million XRP were sent to a different Ripple-associated wallet, 'rKD…2op'. While Whale Alert documented these initial transfers, it did not detect a second wave of fund movements executed shortly after. A separate Ripple-linked wallet, Ripple (27), conducted additional transfers, bringing the total amount moved to 1 billion XRP. At 03:28 UTC, this wallet transferred 170 million XRP to the 'rKD…2op' address, followed by 330 million XRP to another Ripple-associated address, 'rDd…eCK'.
Ripple Escrows 700 Million XRP Amid Market Dip
Following these large-scale transfers, a significant portion of the XRP was locked back into escrow. The 'rKD…2op' wallet, after receiving 370 million XRP in total, escrowed the full amount at 03:33 UTC. Similarly, the 'rDd…eCK' wallet, which had been credited with 330 million XRP, locked away its entire balance three minutes later. This resulted in 700 million XRP being returned to escrow, leaving 300 million XRP in the 'rBg…91m' address.
Ripple's current transactions and the absence of an escrow release are drawing market attention, while XRP's price has slightly decreased.
