Ripple escrow releases 0.9 billion XRP to kick-start the month

  • 02 July 2019, Tuesday, 12:30

Ripple’s escrow fund movements have been long debated, with speculations about the actual amount of XRP tokens released constantly doing the rounds. Question regarding the definition of “escrow queue” has also drawn attention. In recent news, a huge volume of 200,000,000 XRP accounting for $79,227,656 was transferred from Ripple’s Escrow wallet to Ripple.

???? ???? ???? ???? ???? ???? ???? 200,000,000 #XRP (79,227,659 USD) transferred from Ripple Escrow wallet to Ripple

Tx: https://t.co/cAxbjbizIy

— Whale Alert (@whale_alert) July 1, 2019

According to Whale Alert, a cryptocurrency data aggregation website, the payment had a timestamp of Mon, 01 Jul 2019 16:50:32 UTC, with a hash of 7FD16857D7CAD3BC06BEE420041E39241544AF277CB2FCB01D2E94EB24BC0E60. The sender’s Ripple Escrow Wallet address was rDdXiA3M4mYTQ4cFpWkVXfc2UaAXCFWeCK and that of the recipient was rsjFB8mPWqiZgPUaVh8XYqdfa59PE2d5LG.

A closer look at the sender’s address provided the transaction hash 7FD16857D7CAD3BC06BEE420041E39241544AF277CB2FCB01D2E94EB24BC0E60. Additionally, it also detailed the other two transactions which took place shortly after the aforementioned escrow movement.

The funds transferred to the recipient’s wallet were released in two batches of 100,000,000 XRP each.

The second transaction was executed from the same Ripple escrow wallet address, signed by Ripple to a recipient of wallet address rp6aTJmW3nq1aKt3Jmuz4DPRxksT5PBjpH, with a hash of 755A430D0D239B194B12AED6C428615E06857AEBFBFB0C3A22ED64C2062257E9 and a timestamp of Mon, 01 Jul 2019 16:52:31 UTC. The amount of funds moved were 500,000,000 XRP, which is equivalent to $198,278,560.

The entire amount of funds were released from the recipient’s wallet in a single batch.

The third transaction from the same escrow wallet held by Ripple was sent to a wallet address of rBg2FuZT91C52Nny68houguJ4vt5x1o91m, which involved the transfer of 200,000,000 XRP. The transaction had a timestamp of Mon, 01 Jul 2019 16:53:51 UTC, with a transaction hash of 6CE1E7F1522F0A6ACB2641BA26B2E5AAC4D4274EA5591159852168EDF6872158.

Only 50,000,000 XRP were released from the third recipient wallet after the transfer.

According to the Brad Garlinghouse-led firm, the transfers from escrow will be utilized to fund multiple projects and bolster its in-house crypto-asset, XRP.

Source: ambcrypto.com