E Point Perfect

1 Billion XRP Did Not Leave Escrow This Time; Is Ripple Done with Regular Withdrawals?


article image

Yuri Molchan

For first time, Ripple has not moved 1 billion XRP out of escrow as new month has begun

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Today is Oct. 3, and on Saturday, the first day of the month — when, over the past few years it has been traditional for Ripple to unleash a whopping billion XRP — the withdrawal did not take place.

This might signify that the long-term campaign on withdrawing 55 billion XRP monthly has come to an end.

Ripple began releasing one billion XRP at the start of each month in 2018 in order to support the token’s liquidity and injected it into circulation every time. Over the past two years, it would release two chunks of 500 million XRP each and lock around 800 million back into escrow until the next month.


These withdrawals were made from 55 escrows set up by Ripple, which held 1 billion tokens each. They started in 2018 and were meant to finish at some point this year. When they only started, the XRP community became afraid that these releases would keep the XRP price down and even started a petition to stop further withdrawals of XRP. However, over time, it became clear that they did not impact the XRP rate at all.

At the time of writing, XRP is exchanging hands at $0.4405 after falling from the $0.48 level over the weekend.


Source link

Related posts

Cardano’s (ADA) First Telemedicine App Goes Live

XRP Worth Millions of Dollars Continue to Flow into Exchanges and Wallets, Now Directly from Ripple Address

Shiba Inu (SHIB) Price at Critical Point, According to Peter Brandt

Cardano Founder Takes Jab at Terra’s Do Kwon: Details

SHIB Price Analysis for November 14

onXRP Partners up with Banxa, XRP Can Now Be Purchased via Bank Card & ApplePay