Ripple has been known to have sold large chunks of the currency held in escrow in the past as well but the current chunk of one billion XRP in a single transfer that took less than a second is creating some real buzz on the social media and in the crypto sphere.
The transfer is worth about a few hundred dollars less than three hundred million dollars and the currency is currently under scrutiny at the security exchange commission of the United States of America. This has sent ripples of discussion in the crypto sphere on various levels.
Twitter is no exception, one of the favorite social media for crypto enthusiasts and some believe it is just a strategic move by Ripple since the move can be “huge for liquidity” while others are more skeptic of the transfer.
The ledger activity includes one wallet sending XRP to another. So if you go to the XRPL, you’ll see huge transfers taking place, including one for almost a billion dollars from Ripple. These could mean huge things for liquidity, but they’re not payments just strategic movement
— John banana (@Bananaforyomama) November 28, 2018
While others are left in awe with the sheer strength of the transaction that move such huge volumes of transfer are actually raising suspicions for the currency.
Over 1.25 billion XRP in total was moved by @Ripple in less than one hour. It really makes you wonder what they are up to with all of these huge transfers of XRP?…..? #Ripple #XRP https://t.co/LqayGobbma
— XRPcryptowolf (@XRPcryptowolf) January 28, 2019
It is hard to say however if Ripple is trying to pump in more money, that some users suggested would be the last refuge for XRP when it sold a large chunk back in 2018. However, there is another catch to the whole transfer that makes things a little more interesting.
100 billion premined #XRP tokens have no use-case, as #banks don't NEED to "use XRP" to transfer funds, but they use the #Ripple Network. If #SEC rules XRP a "#security," understand holders wanting one last XRP pump now before XRP crashes down quickly if XRP is ruled a "security"
— DigiByte, Bitcoin, Blockchain & Key Crypto News (@DigiByte_News) October 2, 2018
This transaction by Ripple, from the escrow accounts, carry a cool yet mystery message for the receiver. It says, “Crawl… Walk… Run… ;)”. The company holds about sixty percent (60%) of the supply when it comes to the currency and such a message can mean either a big change for the currency or a major stakeholder moving in, according to some experts.