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Several users and whale-watching accounts were surprised by the volume of XRP transactions that took place in the last hour. At the time of writing, more than $ 1 billion changed addresses. The explanations offered by Twitter members range from the movement of the deposit account to a new incoming xPool provider.
The big transactions started at 17:00 UTC time and, according to @whale_alert reports, in about 10 minutes, 7 of them were registered between $ 392 and $ 38 million, for a total of over $ 1 billion . At the cost of 0.0005 XRP per transaction, the total commission paid for all amounted to about $ 0.001.
10 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1.108.302.304 #XRP (392.781.994 USD) transferred from the unknown portfolio to the Ripple OTC distribution portfolio
Tx: https://t.co/vkA6meY6sY
– Whale Alert (@whale_alert) January 1, 2019
Two of the transactions have been tagged as escrow created by @whale_alert, as the information enclosed in the ledger allows you to discern. In particular, the "type" field, which is filled with "escrowCreation".
Read more: Redditor found that 2.6 billion XRPs were transferred to unknown portfolios
Further interesting information about the transaction is the "allowExecuteAfter" field, which seems to refer to an expiry date for the escrow fund, set at 2023-06-01. So will the crypt still be around? The owner of the $ 106 million deposit fund seems to think so.
The transactions have triggered numerous reactions between cryptic Twitter, with some showing the usual lack of trust when they are in the presence of so-called whales:
… and they say that XRP is decentralized 🤔
– afsheenjafry (@afsheen_jafry) January 1, 2019
This is exactly why Ripple and XRP will never work. Via too centralized
– Jamison Olivieri (@ jolivieri89) January 1, 2019
However, not all have been critical of Ripple, as many other users have started to find a logic behind the movements:
Look at all the comments in the comments that talk about a landfill that does not realize to cash out an escrow release on the 1st of every month to sell OTC XRP and the one that does not sell back in the deposit. Why talk about what you do not know? Go back to comment on your BTC higher
– XRP_TMiller (@TmillerXrp) January 1, 2019
I tagged everything. The 1.1B move is interesting. He came out of an old wallet with a main key. 100M went to what I think is the @Bitstamp temporary portfolio which is now at 1B XRP. It seems that Ripple has another xPool provider.
Everything has been tagged in the ledger.
– GreenEggsnHam (@HamEggsn) January 1, 2019
The commitment is basically the blocking of XRP in a transaction based on a certain condition. It means that it is not possible to access the amount of XRP up to the specified date.
– Georg Fiechtl-Otter (@ GAFO666) January 1, 2019
Read more: Kraken rips into Ripple; The XRP army responds; Removals and shakers: the first 5 whales are moving this week
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