Ripple’s mysterious 250,000,000 XRP transfers are explained by fresh data

Data shared by the prominent blockchain thrushed Skull Alert tracking large cryptocurrency transfers revealed a massive crypto transaction launched by fintech giant Ripple.

Apart from that, another large XRP transaction has been discovered. Recent data shared by XRPSCAN includes details of these transactions, particularly the incredible transactions carried out by San Francisco-based Crypto Giant.

Ripple shovels 250 million XRP into unknowns

According to the data source above, Blockchain Juggernaut Ripple did a jaw drop transfer and moved 250,000,000 XRP to an anonymous wallet.

This third largest cipher equivalent makes up a whopping $703,901,147. XRPSCAN indicates that these funds will be transferred to Ripple-related crypto wallet – Ripple50, and the goal is likely to prepare this amount to cover the company’s operating costs, and some of them may be added to Ripple Payments Network, OTPS and various investments.

Once a month, Ripple unlocks 1,000,000,000 XRPs from escrow, leaving around 300 million units themselves, sending the rest back. The 250 million XRP, which the company moved in on Friday, could have come from one of these XRP chunks that were unlocked from escrow earlier this year.

What’s more, the whale alert also detected 50,000,000 XRP forwarding between anonymous wallets. However, Analytics account @xrpWallets shared that the money was sent from Ripple into a wallet belonging to one of the founders and former CEO Chris Larsen.

49,999,989 XRP has been forwarded anonymously

At the same time as the 250 million XRP forwarding, Whale Alert shared details of another large XRP transaction. It had a 49,999,989 XRP worth $140,841,434.

The tracker marked the transfer as “from unknown wallet to unknown wallet.” However, @XRPWALLETS claimed that this whole amount of XRP was sent to a sub-willet belonging to the obsolete FTX Crypto Exchange.