- 500 million XRP worth over $1 billion transferred to Ripple from unknown wallets.
- 700 million XRP coins are subsequently locked in the escrow by the company.
- Analyst predicts new all-time high within 90-120 days based on historical patterns.
A series of massive XRP transfers has triggered speculation in the cryptocurrency community. Blockchain tracking services have recorded the movement of 500 million XRP tokens worth approximately $1.05 billion from unidentified wallets to Ripple. The transactions occurred in two separate transfers of 300 million and 200 million XRP. This was followed by Ripple locking 700 million XRP into escrow accounts.
The first transaction involved 300 million XRP, which was valued at approximately $629.5 million. Following this, a second transfer of 200 million XRP, worth about $420.1 million, was moved. Shortly after receiving these funds, Ripple placed 370 million XRP ($778.2 million) and 330 million XRP ($693.7 million) into escrow accounts. This totals to 700 million XRP with a combined value of nearly $1.47 billion.
These substantial movements have prompted speculation within the XRP community about the purpose of such transfers. The identity of the source wallets remains unknown. It has raised questions about whether these funds were an internal reshuffling by Ripple, the return of previously released escrow funds, or potentially new acquisitions by the company.
Ripple’s escrow mechanism has been a cornerstone of its tokenomics strategy since 2017. This was when the company placed 55 billion XRP into escrow with monthly releases to provide predictability to the market regarding token supply.
Related: XRP Eyes $2.50 Resistance as Price Consolidation Builds Up
The timing of these transfers garnered attention as XRP has been experiencing price volatility after several weeks of decline. As of press time, XRP is at $2.12. Meanwhile, technical analyst Egrag Crypto has shared a bullish perspective on XRP’s price trajectory. He suggested that historical patterns often highlight chances of a potential new all-time high within the next 90 to 120 days. The analyst noted: “XRP usually has two peaks during Bull Runs. Reviewing past cycles, we see that in 2021, the second peak occurred after 90 days, while in 2017, it took 120 days.”
This prediction is based on observations of XRP’s Relative Strength Index (RSI) patterns across previous market cycles. According to the analyst, if historical trends repeat, XRP could be approaching a major price movement in the coming months that would surpass its previous record high.
