Impact

Million

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripples-strategic-moves-impact-xrp-market/" data-wpel-link="internal">Ripple’s Strategic Moves Impact XRP Market</a> 
<a href="https://coin-turk.com/xrp-yatirimcilarina-kurumsal-yatirimci-mujdesi" data-wpel-link="internal">Ripple</a>‘s <a href="https://en.coin-turk.com/ripple-faces-potential-2-billion-fine-and-its-impact-on-xrp-coin/" data-wpel-link="internal">XRP</a> has once again caught the attention of investors as 800 million coins are relocked into an escrow wallet amidst a series of significant large-scale transactions. This move, alongside major whale transfers, has led to speculation about the potential impacts on the <a href="https://coin-turk.com/altcoinler-yangin-yeri-ftx-krizi-hangi-altcoinleri-derinden-etkiledi" data-wpel-link="internal">altcoin</a> market due to <a href="https://en.coin-turk.com/anticipating-the-verdict-ripples-legal-battle-with-sec/" data-wpel-link="internal">Ripple</a>‘s strategic maneuvers. 
<h2 style="text-align: justify" id="strong-ripple-s-escrow-wallet-practice-for-xrp-strong">Ripple’s Escrow Wallet Practice for XRP</h2> 
Ripple’s decision to relock 800 million XRP into its escrow wallet is part of its routine practice, usually unlocking 1 billion XRP from the escrow wallet on the first day of each month. Although this practice is customary, it has significant implications for Ripple’s operational framework and the altcoin. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-342745" src="https://coin-turk.com/wp-content/uploads/2024/04/ripple-0010.jpg" alt="" width="1200" height="675"> 
On social media platform X, a lawyer representing XRP, Bill Morgan, noted that some of the unlocked XRP was reintegrated into the circulating supply, while the rest was relocked into the escrow wallet, helping to dispel any emerging panic. 
Overall, Ripple’s escrow wallet practice serves two purposes: providing market liquidity and ensuring the continuation of seamless cross-border transactions. Despite potential short-term fluctuations in XRP’s price due to increased supply, this practice is part of Ripple’s long-term vision for sustainability in the cryptocurrency market. 
Ripple’s recent move of relocking 800 million XRP became even more noteworthy as it occurred during the ongoing <a href="https://en.coin-turk.com/synopsis-summit-comes-to-istanbul-on-october-5-6-2023/" data-wpel-link="internal">SEC</a> lawsuit. The recent relocking of millions of XRP into the escrow wallet followed by high-volume XRP transfers has particularly fueled speculation about Ripple’s objectives and the potential legal status of XRP. 
<h2 style="text-align: justify" id="strong-transfer-of-60-million-xrp-fuels-speculation-strong">Transfer of 60 Million XRP Fuels Speculation</h2> 
The recent relocking of 800 million XRP into Ripple’s escrow wallet coincided with notable whale transfers, fueling speculation about the altcoin. The revelation that Ripple transferred 60 million XRP to two unknown wallet addresses added momentum to the wave of speculation. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ripples-strategic-moves-impact-xrp-market/" data-wpel-link="internal">Ripple’s Strategic Moves Impact XRP Market</a></h5>

Ripple’s Strategic Moves Impact XRP Market

목차

COINTURK NEWS

2024년 5월 2일에 게재된 다른 기사

LayerZero Initiates Key AirDrop Milestone

BlockDAG’s Sensational $22M Presale, Outshines Bitbot And Kelexo (KLXO) In The Crypto Market

Market Manipulation, Bitcoin ETF Outflows, FUD Rising; Crypto Dip Barrels on, Parabolic Trend on ...

Ripple's 800 Million XRP Escrow Lockup Failed to Reboot Price, Here's Reason

Tether Sets New Record With $4.52 Billion Net Profit in Q1 2024

Massive $43M Crypto Ponzi Scheme Uncovered In New York, Leading To Wire Fraud Arrest

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!