- Ripple blocks 800 million XRP on deposit, actively managing the supply of the cryptocurrency.
- Large investors move 67.6 million XRP to CEXs, reflecting remarkable dynamics in the market.
Recent XRP transactions in the market have attracted attention. A total of 867.6 million XRP has moved, with two actions standing out: the locking of 800 million in escrow by Ripple and the transfer of 67.6 million to CEXs by large investors.
The blockade of 800 million XRP in Ripple, carried out in two transactions, represents an active management of the supply of this cryptocurrency. Such actions can influence the available supply and potentially its price.
According to blockchain tracking platform Whale Alert, XRP was blocked in escrow today through a series of two transactions. The first transaction showed the blocking of 300 million XRP in escrow in Ripple by the address r9U…iYp.
While, in another transaction, the address rB3…cPn blocked 500 million XRP in escrow in Ripple. The blocked XRP tokens totaled $404.86 million at the time of publication, piquing the interest of traders and investors across the cryptocurrency market.
In parallel, transfers to CEXs, with 37.9 million to Bitstamp and 29.7 million to Bitso, indicate significant activity by investors holding large amounts of XRP. These transactions are common in the crypto market, but their size is notable and can affect supply and demand.
The price of XRP has shown an increase, although it is not possible to directly attribute it to these specific actions. However, these activities have the ability to affect the market’s perception of XRP.
For investors and analysts, it is important to watch these transactions, as they offer insights into market trends. It is critical to analyze these movements in the broader context, taking into account other market factors.
