United

Burn

Toncoin

Shiba Inu

Ripple, a major player in blockchain technology, has made a notable decision to release 500 million XRP from its escrow. This action has ignited conversations within the cryptocurrency sphere, eliciting responses from both investors and industry professionals. Furthermore, the release has coincided with a 2% decline in the price of XRP. 
Now, pro-XRP lawyer Bill Morgan has weighed in on the matter, shedding light on the implications of this release. This has gained notable attention from crypto market enthusiasts. 
<h2 id="xrp-lawyer-explains-ripple-s-escrow-strategy">XRP Lawyer Explains Ripple’s Escrow Strategy</h2> 
Ripple’s decision to release <a href="https://coingape.com/xrp-price-500-mln-coins-released-escrow-what-next-xrp/" target="_blank" rel="noopener">500 million XRP</a> from its escrow has sent ripples through the crypto world. Notably, the pro-XRP lawyer Bill Morgan provided insights into this monthly occurrence in a recent post on the X platform. 
According to Morgan, this release is part of Ripple’s routine strategy, wherein 1 billion XRP is released from escrow each month. He emphasized that such releases are not novel but rather a regular practice by Ripple. 
Besides, he explained that usually, the 1 billion release plan happens in two tranches of 500 million. While some amount of the released XRP is used to support several aspects by raising the circulating supply, the majority part is returned to escrow again. 
Meanwhile, as reported by CoinGape Media earlier, the significance of <a href="https://coingape.com/ripple-unlocks-one-billion-xrp-why-is-it-significant/" target="_blank" rel="noopener">Ripple’s Escrow Strategy</a> is aimed at maintaining liquidity in the market and facilitating cross-border transactions. Despite a potential temporary downturn following the move in XRP’s price due to increased supply, this strategy serves the long-term interests of Ripple and the broader <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> ecosystem. 
In other words, although the release may exert downward pressure on XRP’s price, it is essential for Ripple to ensure liquidity, especially amid heightened demand from businesses, partners, and exchanges. This balancing act underscores Ripple’s commitment to sustaining its ecosystem despite the ongoing regulatory challenges it faces, particularly the lawsuit brought against it by the Securities and Exchange Commission (SEC). 
Also Read: <a href="https://coingape.com/telegram-embraces-toncoin-for-ad-purchases-ton-price-rallies/" target="_blank" rel="noopener">Telegram Embraces Toncoin for Ad Purchases, TON Price Rallies</a> 
<h2 id="price-slips-amid-regulatory-uncertainty-soaring-supply">Price Slips Amid Regulatory Uncertainty &amp; Soaring Supply</h2> 
The recent XRP escrow release comes at a pivotal moment for Ripple as it continues to navigate the complex regulatory landscape, particularly in the United States. The ongoing legal battle with the SEC has kept investors on edge, seeking clarity on the regulatory status of <a href="https://coingape.com/xrp-lawsuit-can-coinbases-ruling-catalyze-a-reversed-judgement/" target="_blank" rel="noopener">XRP</a> and its implications for the broader crypto industry. 
However, despite these challenges, Ripple and XRP have witnessed significant traction, highlighting the resilience of the ecosystem and investor confidence in its long-term potential. Talking about the recent XRP release from Escrow, the move may cause short-term fluctuations in price, but it underscores Ripple’s commitment to maintaining liquidity and fostering growth. 
Meanwhile, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP price</a> was down 1.89% to $0.6146 during writing, with its one-day trading volume soaring 16.44% to $1.16 billion. Notably, the crypto has lost about 3% in the last seven days, while noting a monthly decline of over 1%. 
<figure id="attachment_188959" aria-describedby="caption-attachment-188959" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-188959" src="https://coingape.com/wp-content/uploads/2024/04/XRP-Price-Chart-1-04-24.png" alt="XRP Price" width="751" height="534" srcset="https://coingape.com/wp-content/uploads/2024/04/XRP-Price-Chart-1-04-24.png 1001w, https://coingape.com/wp-content/uploads/2024/04/XRP-Price-Chart-1-04-24-300x213.png 300w, https://coingape.com/wp-content/uploads/2024/04/XRP-Price-Chart-1-04-24-768x546.png 768w, https://coingape.com/wp-content/uploads/2024/04/XRP-Price-Chart-1-04-24-150x107.png 150w" sizes="(max-width: 751px) 100vw, 751px">
 <figcaption id="caption-attachment-188959" class="wp-caption-text">
 XRP Price
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/shib-price-shiba-inu-monthly-burn-skyrockets-2300-price-rally-looms/" target="_blank" rel="noopener">Shiba Inu Monthly Burn Skyrockets 2300%, Price Rally Looms?</a> 
The post <a href="https://coingape.com/xrp-lawyer-reacts-escrow-releases-500m-xrp-what-next/">XRP Lawyer Unveils Key Reasons Behind 500M XRP Release From Escrow</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Lawyer Unveils Key Reasons Behind 500M XRP Release From Escrow

Table of Contents

Coingape News Media

Other articles published on Apr 1, 2024

Sui Price Prediction for Today, April 1 – SUI Technical Analysis

XRP Ledger (XRPL) Surpasses 87M Ledger Milestone

Bitgert Coin: A Crypto Gem Generating Excitement with 100x Potential

March 2024 Crypto Adoption Report: Global Trends, Top Nations, and Regulatory Insights

Regardless of the Consolidated Monthly Close, Bitcoin Shows a Promising Month Ahead: Can it Make ...

BTC price slips 4% to weekly low as Bitcoin bids line up toward $62K

Join our free newsletter for daily crypto updates!