XRP whales have moved 313 million XRP in just one transaction
According to Cryptocurrency Whale Tracker whale alert, Massive XRP whales have moved 313 million XRP in just one transaction. According to Whale Alert, 148,102,802 XRP worth $313,218,266 was transferred between wallets in recent hours.
On Oct. 29, an amount of 40,614,705 XRP worth $19,293,636 was transferred from the crypto exchange Bitstamp to an unknown wallet. Another 30 million XRP worth $14,251,220 was transferred from an unknown wallet to Bitstamp.
Regarding the XRP movement, Ripple reported in its Q3 2022 report that after the previous quarters and the official escrow agreement, three billion XRP were issued from escrow at one billion per month. During the quarter, a total of 2.1 billion XRP was returned and subsequently placed in new escrow contracts.
Also, Ripple gives an important update on the amount of XRP held across Ripple’s various wallets. It notes that for the first time, the amount of XRP held in Ripple wallets is below 50 billion, or 50% of the total outstanding supply. This makes sense given that Ripple now runs four of XRPL’s more than 130 validator nodes.
Critics have claimed that the company’s ownership of XRP is proof that Ripple controls the XRP Ledger, although this is untrue. The XRP Ledger (XRPL) uses a federated Byzantine consensus to validate transactions, meaning that each validator node gets one vote, regardless of how much XRP they have.
At the time of publication, XRP was changing hands at $0.46. In the ongoing Ripple lawsuit, the Blockchain Association has filed a request to file an amicus brief, supporting a correct interpretation of Howey in the SEC’s two-year legal battle against Ripple.
