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The XRP price was on the investors’ radar&nbsp;today,&nbsp;amid a massive whale transfer of the coin. Meanwhile, Ripple has locked 800 million XRP to escrow&nbsp;today,&nbsp;amid a series of other hefty transfers, which have sparked speculations over the potential move of Ripple behind the transfers.&nbsp;Notably, this move comes after the firm unlocked 500 million XRP from Escrow&nbsp;recently.
<h2 id="span-data-preserver-spaces-true-ripple-locks-800-million-xrp-amid-massive-whale-transfer-span">Ripple Locks 800 million XRP Amid Massive Whale Transfer</h2>
XRP, the native crypto of Ripple, has gained traction in the market today, as evidenced by the surge in its price. Meanwhile, Ripple has locked 800 million in three transactions to <a href="https://coingape.com/glossary/escrow/" target="_blank" rel="noopener noreferrer nofollow">Escrow</a>, sparking speculations in the broader crypto market.
This action follows Ripple’s routine strategy of unlocking 1 billion XRP from Escrow each month. While such releases are customary, they&nbsp;play a crucial role&nbsp;in Ripple’s operational dynamics.
Previously, XRP lawyer <a href="https://coingape.com/xrp-lawyer-reacts-escrow-releases-500m-xrp-what-next/" target="_blank" rel="noopener noreferrer nofollow">Bill Morgan</a> said that a portion&nbsp;of the released XRP&nbsp;is utilized&nbsp;to enhance the circulating supply, while the majority&nbsp;is returned&nbsp;to Escrow. Meanwhile, Ripple’s Escrow Strategy aims to ensure liquidity in the market and facilitate seamless cross-border transactions.&nbsp;
Despite potential short-term fluctuations in XRP’s price due to increased supply, this approach aligns with Ripple’s long-term vision for sustainability in the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> ecosystem. In addition, the locking of XRP underscores Ripple’s commitment to managing its token supply judiciously.&nbsp;
Meanwhile, this strategic move&nbsp;not only&nbsp;supports Ripple’s operational objectives&nbsp;but also&nbsp;contributes to the broader stability of the cryptocurrency market.&nbsp;As Ripple continues to navigate the complexities of the crypto landscape, its Escrow Strategy remains instrumental in shaping its trajectory and ensuring sustained growth and innovation.
Also Read: <a href="https://coingape.com/terraform-labs-refuses-to-pay-5-3-billion-fine-says-sec-has-no-evidence/" target="_blank" rel="noopener noreferrer nofollow">Terraform Labs Refuses to Pay $5.3 Billion Fine, Says SEC Has No Evidence</a>
<h2 id="span-data-preserver-spaces-true-price-performance-amid-massive-transfer-span">Price &amp; Performance Amid Massive Transfer</h2>
The recent locking of XRP by Ripple has further stirred speculations amid massive transactions noted recently. According to Whale Alert, Ripple has moved <a rel="noopener noreferrer nofollow" href="https://whale-alert.io/transaction/ripple/6A5F963863D0E4EC93169C4589591C1AD082736AED99F896C8E8BDEE19D80FC8" target="_blank">60 million XRP</a> to two unknown wallets in two transactions, each consisting of 30 million coins.
However, before shifting the 800 million XRP to Escrow, Ripple received 1 billion XRP from three addresses, sparking speculations in the crypto market. Notably, the transfer has been further watched closely by the investors, as the <a href="https://coingape.com/ripple-vs-sec-news-lawyers-discloses-possible-verdict-in-expert-witness-motion/" target="_blank" rel="noopener noreferrer nofollow">Ripple Vs. SEC</a> lawsuit intensified this, with the SEC filing its reply. Now, the market&nbsp;is eagerly anticipating&nbsp;Ripple’s next move for further legal clarity on the matter.
Meanwhile, despite a dip in major cryptos like Bitcoin, Ethereum, and others, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> was up 2.10% to $0.5091. Notably, its volume over the last 24 hours rose 29.39% to $1.77 billion, with its current market cap&nbsp;standing&nbsp;at $28.18 billion. The XRP crypto has touched a high of $0.5202 and a low of $0.4802 in the last 24 hours.
Also Read: <a href="https://coingape.com/bitcoin-btc-price-slump-hints-major-trouble-ahead-for-global-markets/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Slump Hints Major Trouble Ahead for Global Markets</a>
The post <a href="https://coingape.com/xrp-price-ripple-locks-800m-coins-massive-xrp-movements-what-next/" rel="noopener noreferrer nofollow">XRP Price:&nbsp;Ripple Locks 800M Coins Amid Massive XRP Movements, What’s Next?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price: Ripple Locks 800M Coins Amid Massive XRP Movements, What’s Next?

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