Ripple’s Surprise Move: 400 Million XRP Unlocked Early

Ripple has made an unexpected move by unlocking 400 million XRP tokens from its escrow account ahead of schedule. This has raised questions and sparked discussions within the XRP community.

Timing and Transaction Details

The transaction was brought to light by the on-chain analytics platform Whale Alert. The timing of the unlock is unusual as Ripple typically releases these tokens at the beginning of each month.

Off Escrower’s Explanation

An X user named Off Escrower claimed responsibility for the transaction, suggesting that Ripple did not initiate it. He stated that the released funds were part of the token unlocks for February, which Ripple did not release at the start of the month.

Escrow Execution Process

Off Escrower clarified that a smart contract is not responsible for the unlocks and that someone must manually execute the transaction to release the funds. He emphasized that anyone can initiate the transaction once the conditions are met.

Memo Included in the Transaction

The transaction included a memo that read, “February escrow was not executed? Hmm. !!TRWBT!! Welcome back, Hodor!! John Deaton!!” Off Escrower claimed to be responsible for this memo, adding that anyone who releases the escrowed funds can include a memo in the transaction.

Mention of John Deaton

The mention of John Deaton in the memo is believed to be related to his recent decision to run for Congress. Deaton, known in the crypto community, will run against Senator Elizabeth Warren for the Massachusetts Senate seat. Deaton has been a critic of Warren’s stance on cryptocurrencies.