Ripple Receives 2 Billion XRP from Unknown Wallets – Could This Massive Release Trigger a Price Explosion?

cryptonews.com:

The price of XRP has declined by 1.5% this morning, dropping to $0.5494 as the cryptocurrency market falls by 2% today.

XRP is also down by 8% in the past week and 3% in the last 30 days, although the altcoin – the seventh-biggest token in the market – sits on an 11% increase in a year.

The past 24 hours have witnessed some intriguing transfers involving Ripple, with the firm receiving 2 billion XRP from two unknown wallets, with half of this amount coming out of escrow.

And while Ripple has put 1.2 billion XRP back in escrow, 800 million tokens are still unlocked, suggesting that we could see some significant price action soon.

Yesterday witnessed three transactions which unlocked 1 billion XRP from escrow, coming from two unknown wallets.

What’s interesting is Whale Alert data shows that Ripple received another 1 billion XRP from these same two wallets later in the day, across four separate transactions.