200 Million XRP Locked Up from Ripple's Address

IconCryptoNewsTerminal Staff01 Aug, 2024

cryptonews.jpg

200 Million XRP Locked Up from Ripple's Address

200 million XRP were recently transferred from Ripple's address to an unknown wallet, according to Whale Alert. The transaction was made on August 10, 2023, and the XRP is now in a lockup period. The reason for the lockup is unknown, but it is possible that Ripple is using it to provide liquidity for the XRP market. Ripple has been known to use lockups in the past to stabilize the price of XRP. The lockup will expire on August 10, 2024. Until then, the XRP will not be available for trading.