Friday, April 16, 2021

1 Billion XRP Unlocked from the Escrow at Ripple Escrow Wallet

Ripple, the cross-border payment company that oversees the distribution of XRP has indicated to have already started business as usual in the wake of the new year 2020 with 1 billion XRP (worth $192,008,050 at press time) recently unlocked from the escrow at Ripple Escrow wallet.

According to Whale Alert, the Live tracker of large cryptocurrency transactions from and to exchanges for various digital currencies, the transaction took place on Wednesday, 1st January 2020, at 00:35:21 UTC.

Ripple has consistently defended its intention to unlock such a huge amount XRP from its escrow in the past. Earlier than now, Ripple had consistently been criticized after such a voluminous transaction on the first day of the month, but the blockchain tech has always defended its usual action, claiming it has no impact on the price of the digital token XRP.

Is SWIFT/Coda Preparing to Use XRP?

This finding was recently hinted by a crypto enthusiast identified on Twitter as The Bearable Bull. In his tweet, he signified line 40 from the code he captioned with the tweet.

He said, β€œLine 40… SWIFT/Corda is prepped to use XRP AT ANY MOMENT. This is about to get interesting.”

XRP and Other Cryptocurrencies in the Market

The cryptocurrency market has not made significant loss or gain for quite some days due to the price growth reluctance incessantly experienced by the top digital currencies, especially the first largest cryptocurrency by market capitalization, Bitcoin (BTC), Ethereum (ETH) and Ripple’s digital token XRP.

At the time of filing this report, XRP is trading at $0.193605, with a 0.06% price upsurge in the last 24 hours.

Many crypto analysts have foreseen great fortune for the majority of top coins in 2020. Some of them attached their claims with the upcoming Bitcoin halving, an event expected to greatly enhance the growth of BTC in terms of price.

There are claims that other cryptocurrencies would also benefit from this event due to the historical impact of the periodic halving of Bitcoin on other digital currencies.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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