RATE Group | Twitter Erupts As $38M in XRP Withdrawn From Ripple Escrow Wallet
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Twitter Erupts As $38M in XRP Withdrawn From Ripple Escrow Wallet

01 Jan Twitter Erupts As $38M in XRP Withdrawn From Ripple Escrow Wallet

Posted at 00:40h in Cryptocurrency News by

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Literal minutes ago as of the time of writing this, Twitter account “Whale Alert” spotted the below transaction: the XRP address designated as the Ripple Escrow wallet, which regularly releases portions of a large token lockup, just transferred 200,000,000 XRP — currently valued at $38.1 million — to an address owned by Ripple Labs, the fintech company using the cryptocurrency and its respective ledger to improve financial services. 

While it isn’t clear what Ripple is doing with these funds in the immediate future, some immediately began to fear that the company will be liquidating the tokens to bolster its balance sheet. Popular cryptocurrency commentator “Bully” posted the below tweet in the wake of the transaction, touching on his latest crusade against…

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