Ripple moves 100 million unlocked XRP amid price crash
Ripple has moved 100 million XRP from the 200 million kept from September’s 1 billion XRP token unlock . From that, 72 million tokens passed through five different accounts before being deposited in small batches to four different exchanges, indicating they were sold. Notably, this possible sell-off of the freshly released XRP tokens happened amid a general price crash that devastated the cryptocurrency market on September 11, in a growing fear of FTX liquidations, which includes dozens of millions of dollars in XRP. Besides that, XRP itself has lost over $1 billion in market cap in the last few days. Following the track of the 100 million XRP After the 1 billion XRP escrow, Ripple re-locked 800 million in new escrows, keeping 200 million tokens in the “Ripple (1)” account, ready to be put into circulation through XRP’s supply inflation method. In this context, 100 million XRP were sent from “Ripple (1)” to the unknown address “rJqiM…La8nE” on September 11. Two hours lat...