1 Billion XRP Flood the Market: Will Ripple’s Escrow Release Impact Prices?
- XRP locked and then unlocked 1 billion XRP tokens from escrow on the XRP Ledger.
- The firm stated earlier that it would release 1 billion XRP every month for 55 months.
- The 1 billion XRP tokens are worth $477 million, as the token is valued at $0.4781.
Ripple Labs, the blockchain payments company behind XRP, has released 1 billion tokens from escrow, triggering a wave of speculation and debate among investors. The move, part of Ripple’s ongoing strategy to manage XRP’s circulating supply, has drawn both criticism and support from the crypto community, with some accusing the company of market manipulation while others defending its transparency.
Whale Alert tracked the transfer of 200 million XRP, followed by 300 million XRP, and finally 500 million XRP from an unidentified wallet to Ripple. These tokens were then placed into escrow in line with Ripple’s strategy, which involves locking 55% of the total possible supply of XRP (55 billion XRP tokens) into a series of escrows.
The unlocking process commenced four hours earlier, with Ripple releasing 500 million XRP, followed by 100 million XRP, and then 400 million XRP. This massive movement of XRP elicited mi…
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