Massive XRP Whales Transfer 313 Million XRP 

Massive XRP whales have shifted 313 million XRP in a single transaction, according to the cryptocurrency whale tracker Whale Alert. According to Whale Alert, 313,218,266 XRP worth $148,102,802 has been transferred between wallets during the last 24 hours.

On October 29, an unknown wallet received 40,614,705 XRP worth $19,293,636 from the cryptocurrency exchange Bitstamp. An additional 30 million XRP valued at $14,251,220 was transferred from an unidentified wallet to Bitstamp.

Ripple says in its Q3 2022 report that three billion XRP were released from escrow at a rate of one billion per month, consistent with prior quarters and the formal escrow agreement. 2.1 billion XRP were returned and then put into new escrow contracts during the course of the quarter.

In addition, Ripple provides an essential update on the total quantity of XRP stored in its different wallets. It is said that, for the first time, the quantity of XRP stored in Ripple wallets is less than 50 billion, or 50% of the entire supply. This makes sense considering that Ripple currently operates four of the over 130 validator nodes used by XRPL.

Critics have falsely said that the company’s ownership of XRP proves that Ripple controls XRP Ledger. XRP Ledger (XRPL) employs a Federated Byzantine Consensus to verify transactions, meaning that each validator node receives one vote regardless of the amount of XRP it owns.

At the time of writing, the price of XRP was $0.46. The Blockchain Association has submitted a request to file an amicus brief in the current Ripple litigation, supporting a right reading of Howey in the SEC’s two-year legal struggle against Ripple.

Also Read: Blockchain Association Supports Ripple In The SEC Conflict