Often referred to with the SEC, Ripple came to the fore this time with 1 billion XRP from escrow wallets. It first locked 55 billion XRP into escrow wallets on December 15, 2017 to increase predictability in supply. Finally, looking at the on-chain data, it was seen that Ripple moved 1 billion XRP from 2 different escrow wallets to the market.
1 Billion XRP Released From Ripple’s Escrow Wallets
XRP, one of the most popular cryptocurrencies, has been frequently in the media lately. This time, Ripple, which has come to the fore with XRPs aged from escrow wallets, is actually not doing this for the first time.
So much so that since 2017, 1 billion XRP has been actively released on the first day of the month. It is a system that this system uses to keep supply in balance and under control. On the other hand, the views that these transactions have a negative impact on prices are also not correct. In fact, the fact that XRP has lost more than 50 percent in value in the last 1 year is not related to these sales.
But until recently, XRP sales by Ripple co-founder Jed McCaleb had a negative impact on XRP. However, McCaleb completely exhausted his XRPs.
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