Impact

Billion

Coin

<ul class="news-points">
 <li>XRP locked and then unlocked 1 billion XRP tokens from escrow on the XRP Ledger.</li>
 <li>The firm stated earlier that it would release 1 billion XRP every month for 55 months.</li>
 <li>The 1 billion XRP tokens are worth $477 million, as the token is valued at $0.4781.</li>
</ul>
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 <a href="https://x.com/whale_alert/status/1807892904955802110?t=bqfRDojoGBhgyZdecuN0xA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">tracked the transfer</a> of 200 million XRP, followed by 300 million XRP, and finally 500 million XRP from an unidentified wallet to Ripple. These tokens were then <a href="https://x.com/whale_alert/status/1807893653882314847" target="_blank" rel="noopener noreferrer nofollow">placed into escrow</a> 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…
The post <a href="https://coinedition.com/1-billion-xrp-flood-the-market-will-ripples-escrow-release-impact-prices/" rel="noopener noreferrer nofollow">1 Billion XRP Flood the Market: Will Ripple’s Escrow Release Impact Prices?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

1 Billion XRP Flood the Market: Will Ripple’s Escrow Release Impact Prices?

Coin Edition

Autres articles publiés le 2 juil. 2024

Circle Paves the Way for Stablecoins in Europe: First to Achieve MiCA Compliance

Former Senior Executives of Google, Apple, Tesla, Meta and X Joined This Altcoin!

WTK Price Expectations Shoot to $1 by December as WadzPay Shares Latest Project Insights

Turkey Grants Legal Status to Cryptocurrencies

Top Cryptos To Invest In 2024: BlockDAG X-Series Miners Gain Massive Traction With 3.4M Sales; Mo...

Robinhood to launch crypto futures in the U.S. and Europe

Join our free newsletter for daily crypto updates!