Whales have also started moving XRP in large numbers as the cryptocurrency market regains its strong momentum.
On October 29, an anonymous XRP whale moved a total of 313,218,266 XRP worth $148,102,802 in a single transaction, reports Whale Alert, which tracks large cryptocurrency transactions.
Whale Alert tweeted, “313,218,266 XRP ($148,102,802) transferred from unknown wallet to unknown wallet.”
313,218,266 #XRP ($148,102,802) transferred from unknown wallet to unknown wallet https://t.co/PiVcJ36Iq5
— Whale Alert (@whale_alert) October 29, 2022
Additionally, on October 29, 40,614,705 XRP worth $19,293,636 was transferred from cryptocurrency exchange Bitstamp to an unknown wallet. Another 30 million XRP worth $14,251,220 was transferred to Bitstamp from an unknown wallet.
Regarding the XRP movement, Ripple stated in its Q3 2022 report that 3 billion XRP is being sent out of escrow at a rate of 1 billion per month following previous quarters and official escrow agreements. A total of 2.1 billion XRP was returned throughout the quarter and later held in new escrow contracts.
In its Q3 report, Ripple also updated the community on the amount of XRP held in its wallets. It noted that the number of XRP held in Ripple wallets fell below 50 billion for the first time, accounting for 50% of the total circulating supply.
It’s also worth mentioning that Ripple now only runs four of the XRP Ledger’s 130+ validator notes.
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Source of information: Compiled from TIMESTABLOID by 0x Information.The copyright belongs to the author Solomon Odunayo and may not be reproduced without permission