Ripple Whale Alert Sounds The Alarm With $1 Billion XPR ($302 Million) With A Crawl, Walk, Run Memo
Ripple Moves 1 Billion XRP From Escrow To Another Wallet
It seems that Ripple has recently moved 1 billion XRP coins from its Escrow wallets to another unknown wallet. The transfer was close to $302 million dollars and it paid a fee of 0.000012 XRP, less than a cent.
The information was released on Twitter by the user Whale Alert on February 4. They’ve provided the transaction information from a block explorer where it is possible to see all the data related to it. That includes the funds moved, from and to which wallet and a small memo.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,000,000,000 #XRP (302,964,220 USD) transferred from Unknown wallet to Unknown wallet
— Whale Alert (@whale_alert) February 4, 2019
The memo for this transaction is not empty as it usually is. Instead, it contained a mysterious message: “Crawl… Walk… Run ;)”
In 2018, Ripple sold a new record of XRP in the market. The company reached $535 million in XRP sells to funds its operations and expansion all over the world. The information at that time was released by the firm on its sales report.
Ripple is currently trying to expand the services that it is offering to companies from all over the world. The intention is to make it easier for banking institutions and firms to process cross-border transactions in a fast and easy way. In the future, several other firms will be implementing the xRapid solution and integrate XRP into their cross-border payments to source liquidity on-demand.
This XRP transaction shows that it is possible to transact millions of dollars in XRP in just a few seconds and for less than a cent. This is very promising for the future of transnational payments that are currently relying on old technology such as the one provided by SWIFT.
This is not the first time that we wrote at Bitcoin Exchange Guide about a massive XRP transaction. Back at the beginning of January we mentioned that 1.1 Billion XRP was moved to Ripple OTC distribution wallet.
At that time, $392 million were moved with this transaction. That represented more than 4.5% of the XRP available supply in the market.
Currently, each XRP is being traded around $0.298 and it has a market capitalization of $12.28 billion.