Ripple Locks 800 Mln XRP in Escrow Amid Soaring Whale Activity, What's Happening?

XRP, one of the most prominent cryptocurrencies by global market cap, birthed a hurricane of speculative buzz across the broader crypto market on Thursday following two noteworthy escrow locks and two significant whale transactions noted by the Ripple-backed token. On-chain data highlighted by the blockchain tracker Whale Alert suggests a staggering 867.

Timeline of Xrp

Ripple, a cryptocurrency payments network, is diving into the crypto custody sector, aiming to effectively take advantage of a multi-trillion dollar market. This move is significant as it could potentially trigger renewed bullish momentum for the XRP price.

In a recent interaction on the X social media platform, Ripple's Chief Technology Officer, David Schwartz, voiced his concerns over the idea of restricting access to open-source artificial intelligence products. His comments were in response to an article published by IEEE Spectrum, where he highlighted the potential dangers of elite control in the realm of

In a recent announcement, Evernode (EVR), a global, permissionless “layer 2” smart contract platform, celebrated its first Centralized Exchange (CEX) listing on Bitrue. The long-awaited launch of Evernode on the XRP Ledger as a Layer 2 has garnered immense attention, with enthusiasts eagerly anticipating the implications of this development.

A transaction involving a whopping 25.6 billion XRP (valued at nearly $15 billion), nearly half of the total circulating supply of approximately 54.26 billion, raised alarm within the crypto sector in the late evening of January 14. The transfer was reported to have originated from an unknown wallet to the cryptocurrency exchange Bitfinex.

Ripple (XRP) has remained unmoved after a recent attempt to transfer XRP tokens worth $15 billion to Bitfinex was thwarted. If successful, the transfer would most likely have affected XRP price significantly seeing the amount being moved was a meaningful percentage of the overall XRP circulating supply.

Bitfinex, a prominent cryptocurrency exchange, has successfully neutralized an audacious attack targeting $15 billion worth of XRP tokens. This attempted exploit, which sought to leverage a “Partial Payments Exploit,” was foiled by the exchange's adept handling of critical transaction data.

Ripple Labs-backed XRP has grown to a respectable utility-based digital asset with a vibrant ecosystem. Listed on almost every top-rated cryptocurrency exchange and decentralized financial platforms, XRP has remained among the top ten most valuable crypto assets by market capitalization.

XRP is currently holding above the crucial 200-day EMA, a level that has morphed into a dynamic support line. This pivotal line, sitting approximately at $0.55, is now the battleground where XRP's short-term destiny is being contested.

The crypto world is never short of surprises, and the recent shuffle in the Hong Kong Virtual Asset Consortium's (HKVAC) crypto indexes is a testament to the dynamic and often unpredictable nature of this digital economy.

XRP Ledger has achieved a significant milestone, surpassing 5 million accounts, marking a noteworthy moment in its development. This achievement represents approximately 60% of the total XRP supply, reflecting the widespread engagement and diverse functionalities within the network.