Ripple Unlocks 500 Million XRP as Price Surges by 5.56%
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San Francisco-based blockchain company Ripple Labs has unlocked another 500 million XRP from escrow, following a previous release of 1 billion XRP. This significant move was tracked by Whale Alert, a known crypto transaction tracker. Additionally, Whale Alert identified several other large XRP transfers, highlighting the active movement within the XRP network.
This latest release and the subsequent price surge of 5.56% underscore the market's positive response to Ripple's strategic moves. The unlocking of large amounts of XRP often signifies intentions to facilitate liquidity and other strategic plans by Ripple.
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