Ripple Releases 1 Billion XRP Worth $314 Million From Escrow

Ripple just unlocked one billion XRP from escrow, worth just over $314 million.

It’s part of a monthly crypto asset shuffle designed to allow the company to sell a portion of its holdings to crypto exchanges and institutional participants.

Whale Alert@whale_alert

🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 (320,072,524 USD) unlocked from escrow at Ripple Escrow wallet

Tx: https://whale-alert.io/transaction/ripple/7762FD7A97BC1CFDE1A586E1B5D1378923E913C24622B7696449A68C296BBB0F 

Every month, the San Francisco startup allocates a billion XRP and typically sells a relatively small portion before locking the rest back in escrow.

Ripple released its latest XRP Markets Report last week, showing the company sold $251.51 million worth of XRP in the second quarter of this year. The company says it plans to take a “more conservative approach” and reduce that number in the months ahead.

Ripple owns more than half of the total supply of XRP, and the majority of its holdings remain in escrow.

Since 2016, Ripple has cumulatively sold $1.14 billion XRP, according to numbers compiled by The Block. Of that amount, 64% was sold to institutions and 36% was sold to crypto exchanges.

About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast !
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s