A storm is brewing in the XRP base as blockchain analysts and cryptocurrency commentators finger Ripple Labs for secretly dumping millions worth of XRP in dark, intermediary-held wallets — belying public assurances of its escrow-locked reserves. The charges, set off by suspicious exchange-to-wallet leaps and a recent $300 million Webus International treasury transaction, have again put controversy around transparency and regulation compliance at the San Francisco firm at the center of buzz. The Allegations: Escrow Unlocks, Hidden Flows Lurking behind the drama at the center are Ripple's monthly escrow releases. While the company has previously asserted that 55 billion XRP (55% of the circulating supply) are tied up in escrow contracts, critics reference on-chain evidence of morsels of these unlocked tokens being sent to untagged addresses before they reached exchanges. Blockchain analytics firm Santiment tracked a string of transactions in early June when 120 million XRP ($54 million) were moved from a known Ripple escrow account to an unidentified wallet labeled ”rP4X2.sKxv3.” In a matter of hours, the funds were divided into smaller tranches and delivered to Bitstamp, Bitso, and other exchanges — a trend some blame on past sell-offs. “This isn’t about scheduled unlocks. It’s about Ripple using shadow wallets to mask institutional dumps.” — @Crypto_Sleuth_2025 (June 5, 2025) The Webus Connection: A Compliant Backdoor? The scandal heated up after Asia mobility firm Webus International Ltd. disclosed a $300 million XRP treasury managed by SEC-registered adviser Samara Alpha. Crypto analyst Darkhorse believes such an arrangement enables Ripple to sell XRP to middlemen such as Samara, which then sell tokens to corporate clients—skirting a 2024 court injunction against direct institutional sale without SEC approval. “Ripple’s ‘compliant by design’ backdoor lets them move XLP without triggering securities laws. It’s structured, not casual.” — @Darkhorse (June 4, 2025) Ripple denied any partnership with Webus, stating it ”does not control third-party XRP acquisitions.” Blockchain analysis firm ChainArgos, however, observed a cluster of wallets connected to both Ripple and Samara Alpha, raising doubts about coordination. Ripple's Response: ”Fiction Over Fact” To NewsBTC, Ripple CTO David Schwartz rebutted the accusations as ”conspiracy theories,” maintaining the certainty that all escrow releases are pre-planned and transparent. “The XRP Ledger is public. Every transaction is visible. Suggesting we’re secretly dumping tokens ignores both the data and our legal obligations.” — David Schwartz, Ripple CTO The company also referenced its Q1 2025 Markets Report, which identified $240 million in XRP sales—all ODL (On-Demand Liquidity) transactions, not institutional open-market deals. Community Divided: Geniuses or Dodging? XRP owners are split. Some applaud Ripple's alleged genius to avoid regulatory hurdles, while others fear stealth sell-offs will continue to push prices downward. “If Ripple’s dumping via proxies, retail investors are the bagholders. Time for an independent on-chain audit.” Meanwhile, pro-Ripple commentators like Jay Nisbett argue the criticism is overblown: “Webus buying XRP via Samara is just corporate adoption. No different than MicroStrategy holding Bitcoin.” What’s Next? With its price 12% lower since June 1, investors are cautioned to monitor closely two measures: Escrow wallet activity: Suspicious unlocks or transfers could be offloading. Exchange netflows: Long-term flows without retail demand could be institution selling. Regulators are watching too. The SEC is already in court fighting Ripple but could look into the Webus-Samara structure for securities law issues. As accusations grow, this much is sure: in crypto, even the most ”transparent” blockchains can't do away with the looming specter of doubt without disclosure.
