Earlier this Friday, Whale Alert, a widely used service that tracks large cryptocurrency transfers, revealed that Ripple had sent $498 million worth of XRP tokens to an unknown wallet.
The community has been puzzled by the massive transfer, with one user pointing out that it is already too late for escrow moves.
Asreported by U.Today, Ripple unlocked a billion XRP tokens on June 4. Prior to this, the company locked 670 million tokens in escrow.
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Some have interpreted the recent transfer as a bearish sign for the XRP token.
According to the CoinGecko data, XRP is currently trading at $2.18 after adding 3% over the past 24 hours.
Earlier this Friday, 50 million XRP tokens ($108 million at the time of the transfer) were also sent from an unknown wallet to an unknown wallet.
