Ripple has unlocked $1 Billion XRP from one of it’s escrow accounts and sent to a separate unknown wallet. What makes it more interesting is that it includes with a strange memo with a message-
Crawl…… Walk ……… Run
However, Ripple has now locked 80 million dollars of the $1 billion released.
? ? ? ? ? ? ? ? ? ? 500,000,000 #XRP (149,696,518 USD) locked in escrow at Unknown wallet
— Whale Alert (@whale_alert) February 5, 2019
Claims of Centralization
As a matter of fact, Ripple holds about 60% of the total supply of XRP, with most of it locked in escrow.
? ? ? ? ? ? 200,000,000 #XRP (59,878,607 USD) locked in escrow at Unknown wallet
— Whale Alert (@whale_alert) February 5, 2019
Also, the company regularly sells portions of its stash to institutions, crypto exchanges and other interested parties.
? ? ? 100,000,000 #XRP (29,939,304 USD) locked in escrow at Unknown wallet
— Whale Alert (@whale_alert) February 5, 2019
Interestingly, 200 million dollars are still in circulation. It is highly likely that such movements will first pump Ripple’s price and then lead to a major dump. Undoubtedly, Ripple is on the verge of a major breakout as the price eyes a break out of the descending triangle it has been trading in since the beginning of the correction.
The weekly chart below shows that price on a long-term basis, has entered into confines of converging trendlines. These have bordered the highs and lows of the price movements in past four months.
