Ripple Labs, a leading American-based payment firm has locked away a substantial amount of XRP tokens in its escrow wallet as part of its monthly unlock program to help bolster its ecosystem and XRP.
Ripple Takes Back 800 Million XRP
A recent report from on-chain tracker Whale Alert revealed that Ripple took back about 800 million XRP tokens. This is no surprise, as the stated transaction has been a recurring outcome by the payment firm.
The payment firm locked the aforementioned funds after its monthly 1 billion XRP release, which has caught the attention of the crypto space. According to Whale Alert, the firm carried out the transaction in two distinct transfers.
For the first transaction, Ripple locked away 500 million XRP tokens, valued at $253 million at the time of the report. Data from XRPScan shows that the 500 million XRP were initially transferred from “Ripple 23” to “Ripple 11” wallets before they were locked away.
Meanwhile, the second transaction saw 300 millio
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