Ripple is starting February off with a bang.
After initially taking 900,000,000 XPP out of escrow and transferring it into a company-owned wallet, the digital payments startup has done the same with an additional 100,000,000 XRP.
That brings the amount of funds available for Ripple to sell this month to the usual total of 1,000,000,000 XRP worth an estimated $281.6 million.
🚨 🚨 100,000,000 #XRP (27,971,787 USD) transferred from Ripple Escrow wallet to Ripple
— Whale Alert (@whale_alert) February 6, 2020
In addition, Ripple recently sent 30,000,000 XRP to a wallet used exclusively for selling its holdings to institutions over the counter.
30,000,000 #XRP (7,948,270 USD) transferred from Ripple to Ripple OTC Distribution wallet
— Whale Alert (@whale_alert) February 4, 2020
Two minutes after that transaction, Ripple sent 19,519,897 XRP from its over-the-counter wallet to a wallet of unknown origin.
That transfer is likely a sale of XRP to an unnamed third party.
19,519,897 #XRP (5,219,855 USD) transferred from Ripple OTC Distribution wallet to unknown wallet
— Whale Alert (@whale_alert) February 4, 2020
Ripple, which owns more than half of the total supply of XPR, started its escrow program in late 2017 to assure investors that it won’t sell all of its holdings at once.
The company has slowed the amount of XRP it’s selling in recent months and is expected to sell a relatively small portion of the funds to third parties in February.
In the fourth quarter of 2019, the company says it sold a total of $13.08 million over the counter and zero XRP on cryptocurrency exchanges.
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