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Live XRP/USD Chart

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Ripple transferred 700 million XRP, worth over $2 billion, in a series of high-volume escrow transactions on August 2. 100 million XRP, 500 million XRP, and an additional 100 million XRP were transferred in three tranches. According to on-chain data from blockchain tracker Whale Alert, each was later re-locked into escrow.

These actions align with Ripple’s established approach to controlling the XRP in circulation and are part of its larger monthly process to unlock 1 billion XRP. Additionally, Whale Alert detected two separate transfers of 200 million and 300 million XRP from anonymous wallets to Ripple before the escrow transactions. This suggests internal repositioning is likely related to the monthly release mechanism.

Every month, Ripple’s escrow system releases one billion XRP; to manage supply, it typically re-locks between 700 million and 800 million XRP. The 700 million XRP relocked on August 2 indicates that approximately 300 million XRP was retained for potential distribution or use.

Curiously, XRP has already begun to show bearish signs, as evidenced by its sharp decline over the past day, reflecting broader market weakness. Large whale outflows have caused the asset to drop below the crucial $3 support level, and analysts warn of further downside. According to Ali Martinez’s August 2 X post, whales sold over 710 million XRP in the last day, based on on-chain data.