Ripple Moves $302 Million Worth of XRP With an Interesting Memo

Ripple which holds 60% of the total supply of XRP, has unlocked and sent 1 billion XRP to an unknown wallet. At the time of writing 1 billion XRP is equivalent to about than $300 million. 1 XRP is equal to $0.298334.

With the cheap transaction costs, XRP is known for the whole transaction only costing mere pennies! Many may discard it as a standard transaction taking place by Ripple to a crypto exchange or another interested party.

However, the transaction included a mysterious memo stating “Crawl… Walk… Run… ;)”.

Due to the increase in supply, there has been a fall in XRP which is currently -1.15% in the last 24 hours.

Currently, the circulating supply of XRP is 41,169,202,069 XRP with the maximum supply at 100,000,000,000 XRP.

Blockmanity’s Take

The message may hint the future plans of Ripple taking even more aggressive steps towards their technology and XRP as a whole.

It’s already trying to compete not only with SWIFT in the cross border transactions field but in the e-commerce race with the integration with CoinGate. XRP is now accepted at 4500 stores.

Binance was not entirely supportive on Ripple in 2018. However, it changed their strategy at the end of 2018 with the listing of XRP as a base currency. Binance also added XRP purchases through credit card recently. It looks like XRP may still linger on to the second position in the Cryptocurrency rankings, given the scope of advancements taking place.

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