According to a report by Whale Alert, 889.5 million XRP has been wired by Ripple, a currency exchange network, in six separate transactions over the past eight hours. By far, XRP is the fastest & most scalable digital asset, which enables real-time global payments anywhere in the world.
The first transaction was made on June 1, when Ripple took one billion XRP from its escrow prior to depositing 800 million back. While the second transaction has been made recently, as of, June 8.
A heavy amount of 800 million was sent from Ripple’s over the counter distribution wallet to four distinct anonymous addresses and this enormous sum in crypto equals up to over $162.32 million.
Some users were of the opinion that Ripple could be a form of crypto trying to come upfront while stockpiling the fourth biggest currency by market cap. This has been by far its biggest success.
The strategy deployed by Ripple:
Ripple deployed a very smart strategy by dividing 400 mln XRP into two wallets, of 200 mln each. Yuri Molchan, the author, is of the opinion that Ripple might be accumulating this crypto to be used in the future.
Ripple wired 89.5 mln XRP:
Ripple wired 89.5 mln XRP ($18,207,566) to wallets with unregistered owners before transferring the 800 mln XRP. According to the Bithomb website, 49 mln XRP went to the institutional custodial service BitGo and another 40 mln XRP was sent to a wallet set up by the RL18-VN user.