Ripple unlocks 1B XRP From Its Escrow Wallet
As April ends and it’s the start of a new month, Ripple has started to unlock another 1B XRP from its escrow wallet.
This is a routine for Ripple as it is popularly known for unlocking tokens on the first of every month. The company unlocked tokens yesterday at the beginning of May.
Yet another 1 Billion XRP unlocked!
According to reports by @whalealert, Ripple unlocked 1 Billion XRP yesterday. This was not through a single shot as the team transferred 1 billion XRP in three ways of 500M, 400M, and 100M XRP.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 500,000,000 #XRP (107,272,434 USD) transferred from Ripple Escrow wallet to Ripple
— Whale Alert (@whale_alert) May 1, 2020
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 400,000,000 #XRP (85,856,924 USD) transferred from Ripple Escrow wallet to Ripple
— Whale Alert (@whale_alert) May 1, 2020
🚨 🚨 100,000,000 #XRP (21,551,122 USD) transferred from Ripple Escrow wallet to Ripple
— Whale Alert (@whale_alert) May 1, 2020
As of now, the total XRP unlocked in May is worth $220M. The need for Ripple to unlock tokens worth hundreds of millions is still a mystery to the world.
🚨 55,079,321 #XRP (11,865,434 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallet
— Whale Alert (@whale_alert) May 1, 2020
According to another report by @whalealert, McCaleb received 63M XRP in April, and he is estimated to hold over 4.5 billion XRP. This makes one of the wealthiest people in the cryptocurrency world.
Business grows for Ripple:
Ripple is criticized by many analysts for its monthly token unlocks. The reason behind this is a total mystery, and nobody knows that except for the top officials of Ripple. This led to a series of accusations on Ripple, just like the PLUS token scam.
Major crypto exchange platforms like BitMEX have also accused Ripple of a fraud as the CEO of BitMEX, and Ripple have had hot blood between each other.