Ripple Labs, the owners and creators of the Ripple blockchain and equivalent XRP cryptocurrency have just sent away 500 million in XRP from its escrow wallet, reports CoinTelegraph.
This news comes to us via Whale Alert, a space that tweets out significant movements in cryptocurrency.
Interestingly, this transaction of 500 million isn’t the only one sent between the two wallets. In fact, the company has sent more than a couple of massive transactions that have the community up in arms, believing the plan is to manipulate the price by token dumping.
In fact, earlier last month, one Twitter user by the name of @CryptoBitlord sent out a petition called “Stop Ripple dumping,” the publication reports. While it didn’t get all of the 10,000 required signatures, the petition did bring in 3,063, meaning there are some community members that really are worried about such a scenario.
As you may know, Ripple and other altcoins haven’t been performing very well this year, despite Bitcoin moving fairly upwards over time. This has lead to some accusations and confusion around the space, with big bagholders potentially doing what they can to manipulate prices, in addition to crypto robots like bitcoin rush scam which are being launched on a daily basis and are highly unregulated.
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