- Ripple locks 700 million XRP in escrow, triggering market reactions.
- Whale Alert tracks $2 billion XRP moved in multiple transactions.
- XRP price nears key support with weakening technical indicators ahead.
Ripple has locked back 700 million XRP in escrow after conducting three high-value transactions. According to Whale Alert, the total amount moved by the company exceeded $2 billion across three transfers of 100 million, 500 million, and another 100 million XRP.
These transactions were valued at approximately $296.4 million, $1.48 billion, and $296.1 million, respectively. At the beginning of each month, Ripple unlocks 1 billion XRP and puts most of it back in escrow. However, the release date has been moved again on the second day of August this year, in a series established to change dates frequently.
The escrow mechanism, introduced in 2017, is how Ripple manages to create a consistent supply of XRP in the market and regulate market discipline. It does not allow massive liquidations and maintains monthly liquidity.
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Technical Indicators Reflect Growing Bearish Sentiment
XRP’s recent chart activity shows signals of weakening momentum. On a daily basis, we have a string of red candles, which shows how the selling trend has just sustained after a short rally.
The Relative Strength Index (RSI) has fallen rather sharply, from a high of 81.11 to a current level of 47.73, indicating a weakening bullish phase. A continuing break of 40 is likely to take the token further into bearish mode.
Currently hovering near the 20-day simple moving average, the price may find short-term support, though a break below could trigger further losses.
Source: Tradingview
More Large-Scale Movements Observed on the Blockchain
Additional transactions tracked by Whale Alert show that Ripple received two inbound transfers totaling 500 million XRP. The first, for 200 million tokens, was valued at $591.8 million, while the second, for 300 million XRP, amounted to $886.3 million.
These fluctuations are connected with regular Ripple escrow operations and are also part of the monthly cycle of controlled token management by the Ripple company. One steady exchange is the movement of such high amounts, which shows Ripple’s attempts to deal with the XRP supply strategically.
XRP recently underwent transactions on Ripple, which are evidence of the company continuing its work to regulate its supply by creating an escrow. Nevertheless, the spill of technical cues and the overall pressure on the market could keep pressurizing the short-term performance of XRP.
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