After Ripple just released 1 billion XRP from escrow on May the 1st, a massive amount of 400 million XRP were locked back at an unknown address.

Whale Alert tweeted that today that a substantial sum of 400 million XRP was locked in escrow at an unknown wallet. According to the current market value of XRP, the amount locked in the wallet is approximated to $123.6 million and the escrow was set up on May 2. The Bithomp XRP explorer website also indicated that Ripple was the owner of the escrow, with the escrow address also being owned by the company.

The Ripple team has stated in repeated instances that XRP transactions incur very low transaction fees with the transfer fee for moving the 400 million XRP being only 0.005 XRP.

According to Bithomp, the address of the Ripple account that received the XRP is…

Click to continue reading on its source location…

Source: https://thebitcoinnews.com/400-million-xrp-locked-back-in-escrow/