Ripple has initiated the release of 1 billion XRP from its escrow as scheduled for July. However, this month’s transactions included peculiar memos that caught the attention of the community.
The escrow operations took place late on July 1 via Ripple’s 24 and 25 wallets. Notably, the tokens were unlocked in segments: one transaction for 500 million XRP, and two others for 400 million and 100 million XRP respectively.
Consistent with procedure, Ripple has returned 800 million XRP to escrow, reserving the remainder for potential liquidation this month.
Cryptic Memo Accompanies Ripple’s Unlock
The July escrow releases notably featured cryptic messages that intrigued community members. Marty Party, a blockchain architect, highlighted this development in a post on X.
The memo subtly referenced Ripple’s CEO, Brad Garlinghouse, and a prominent community figure known as Moon Lambo. Although its precise meaning remains ambiguous, the memo included a sarcastic comment hinting at a future where “XRP will power the world.”
While Marty Party initially speculated that a large XRP holder (“whale”) might have unstaked tokens and left the message, it’s essential to clarify that this was indeed Ripple’s scheduled escrow release for July. Furthermore, the escrow executor was not responsible for the memo.
Vet, a validator on XRPL’s dUNL, clarified that anyone could insert such messages since the escrow creator isn’t obligated to execute the “escrow finish” themselves. Additionally, the author of the cryptic memo confirmed that it did not originate from Ripple.
Similar Incidents
This isn’t the first instance of mysterious messages accompanying Ripple’s escrow releases. A similar event occurred during the May release, where the message targeted Bitcoin maximalists critical of XRP supporters. It suggested that if XRP’s value were to rise, the maximalists might dismiss it with “Meh, meh, meh, wah, no XRP.”
Another notable incident took place in August, where the message, though equally enigmatic, pertained more closely to events within the XRP community. Evidently, Ripple’s monthly escrow unlocks have become a platform for conveying cryptic messages to the broader crypto community.
Disclaimer: This article provides information and should not be construed as financial advice. The opinions expressed herein are those of the author and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, as The Crypto Basic is not liable for any financial losses.