Will Ripple’s Massive Token Transfers Affect XRP Price?

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While bitcoin has been steamrollering everything else in the land of altcoins, some are going to extreme measures to manipulate their own token prices. Ripple’s recent transfer of 500 million tokens from its escrow wallet is one example, but how will it affect the price of XRP. Ripple Dumping More XRP According to a tweet by the ‘whale alert’ account yesterday, Ripple moved 500 million tokens out of its escrow wallet. 500,000,000 #XRP (130,130,714 USD) transferred from Ripple Escrow wallet to Ripple Tx: https://t.co/3NQNrLAIfc — Whale Alert (@whale_alert) September 3, 2019 This equated to around $130 million moved by the San Francisco based fintech firm. This is the latest in a number of large transactions by the company that has infuriated the community and investors who claim that it is dumping XRP in order to depreciate prices. Their angst has grown so much that a petition was started last week…

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