By Tobi Loba
As a recent report has it, Ripple, the blockchain tech based in the United States, will continue to sell the digital token XRP until April 2041, which is 21 years from now.
XRPArcade, a Ripple and XRP dedicated news outlet, made this revelation in a report. It’s leaned that Ripple has sold an average of 196 million XRP on a monthly basis, since December 2017.
So, the selling rate indicates that the cross-border payment company, Ripple will continue selling XRP until April 2041.
As it’s generally known, the company holds relatively 60% of the XRP total supply, which is 100 billion XRP. An escrow program was set up in 2017 to manage the sale of the digital token, and this has been scheduled to play out on a monthly basis ever since.
According to the report, a total of 5.5 billion XRP has left Ripple’s escrow wallets since December 2017. This implies that the payment company has sold relatively $1.03 billion, considering the price of XRP at press time.
XRPArcade wrote,
“A list of all of Ripple’s XRP in escrow with ending dates. So far 28 months have passed, ending 1 billion in escrow each month.
The total amount of XRP in escrow has been reduced by 5.5 billion XRP so far. That is an average of 196 million per month. At this rate, it will take 252 months (21 years) for the last escrow to finish.”
A wallet owned by Ripple, which is known for selling its XRP holdings to institutions, was very active in February 2020, sending 75,202,210 XRP worth $17 million to unknown wallets.
By the end of April, when Ripple releases its report for the first quarter of 2020, it will reveal the actual amount of XRP that has been sold so far.