Ripple Moves 1 Billion XRP Worth $317 Million, Attaches Mysterious Message
Ripple is making substantial money moves like usually.
The company has just moved one billion XRP out of escrow as an effort to sell a portion of its digital assets to investors, institutions, and exchanges in OTC deals.
This is not the first time they’re making such moves as we already reported.
Ripple moves XRP at the beginning of every month
It’s important to learn that Ripple does this procedure at the beginning of every month and they end up placing about 700 million XRP back into escrow by the end of the month.
Ripple seems to like it more and more to include strange messages along with this mass XRP movement.
This time their memo said the following: “The revolution will be televised…”, and The Daily Hodl says that this is an apparent reference to Gil Scott-Heron’s The Revolution Will Not Be Televised.
Back in February, Ripple’s mystery memo read “Crawl… Walk… Run… ;)” – the note seemed to reference comments from CEO Brad Garlinghouse made during a Quora ask-me-anything back in October of 2017.
He said, “payment providers and banks can use XRP to fund these payments on demand, without intermediaries, at a cost that is less than half of the current cost.”
Garlinghouse also said “But it’s safe to say that we have to crawl before we walk before we run. This is uncharted territory for banks and payment providers, and it’s going to take time before you see broad adoption of digital assets solving this multi-trillion dollar opportunity. Suffice it to say, we are very pleased by the interest from various pilots our customers are already running.”
Ripple has a successful week with the massive announcement that XRP is listed on Coinbase and this triggered enormous excitement in the community.
Other than that, Fortune mentioned Ripple and named it as “one of the best “Small and Medium Companies” to work for in the San Francisco Bay Area.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.