Exciting times for XRP investors, we appear to be gearing up to a bull run to eclipse 2017, acceleration of the Ripple movement is gaining pace rapidly.
A total of 1.5 billion XRP moved yesterday from private wallets on Bitstamp to bank-grade class 3 cold storage vaults protected by 100 million insurance.
Millions of transactions are made each day using blockchain technology and this number is growing fast. Transactions are made directly between sender and receiver, at very low cost, anonymous and without oversight. At Whale Alert we track these transactions made on various blockchains, convert them into a single standard format and store them in our databases
Of course, every month Ripple draw this amount of XRP from Escrow for programmatic and or over the counter institutional sales.
These movements cannot be attributed to Ripple however as their Escrow transfers are well known and heavily tracked each month.
Destination wallets point to custody and storage platform BitGo which allows institutional investors and banks to safely store digital assets like XRP.
XRP legend Alex Cobb feels these transactions are perhaps banks or institutions with huge XRP holdings keeping some of that stored safely offline.
BitGo, a leader in digital asset financial services, will provide secure storage for the crypto assets under management at Bitstamp. We will start transferring assets to BitGo’s wallets on 10 October 2019. Our customers will not be affected by this and you do not need to take any action.
With BitGo Custody, Bitstamp’s assets will be secured on 100% cold storage technology in bank-grade class III vaults and protected by BitGo’s $100 million (USD) insurance policy
What makes this so exciting is that everything we have spoken of for the past two years is becoming a reality in the world, molding the future as you read.
Anyone who thinks XRP is not going anywhere or will never reach triple figures for its asking price is either crazy or incredibly dim.
Another intriguing story surrounds much anticipated SEC security ruling for XRP, although hints have been dropped no concrete info has yet surfaced.
A year ago we stumbled upon the notion that XRP had not been deemed a security because it still holds over 50% of the digital asset under scrutiny.
Since 2012, Ripple has methodically sold XRP and used it to incentivize market maker activity to increase XRP liquidity and strengthen the overall health of XRP markets. To alleviate concerns surrounding XRP supply, Ripple has placed 55 billion XRP into a cryptographically-secured escrow account. By securing the lion’s share of XRP, people can mathematically verify the maximum supply of XRP that can enter the market. Read more.
Ripple Website
Under the SEC’s regulations, it is suggested that one of the stipulations in avoiding a security asset classification is holding less than 50% of the asset.
Ripple has been selling off this XRP OTC for almost two years now and has declared that they now hold just 50,000,000,013, nearly less than 50%…
Maybe we have it wrong but if we are right, any moment now Ripple will hold less than 50% of all XRP and the SEC could leap into action… Maybe
