Friday, December 4, 2020
No menu items!
  • News
  • XRP News
  • Contact Us
More

    Ripple Releases 1 Billion XRP, Returns 800 Million XRP Back into Escrow

    Must Read

    Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

    According to Ripple’s senior vice president of product management and corporate development, Asheesh Birla, the payment firm is planning...

    David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

    Ripple CTO David Schwartz has recently pointed out that the XRP community could force Ripple to burn the over...

    Get Up To 100 USDT for Trading On Bitget Exchange. Here’s How to Apply

    According to a report, the Singapore-based deviation margin trading exchange, Bitget, is holding a new campaign that comprises Registration...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    According to Whale Alert, a total of 1 billion XRP was unlocked from Ripple escrow and returned the sum of 800 million XRP into the escrow wallet after the release on 1st November 2020.

    Aside from the huge transaction reported by Whale Alert, XRP tracking platform, XRPL Monitor also reported that the cross-border payment giant transferred the sum of 58.6 million XRP to BitGo and its internal wallets.

    Read Also: David Schwartz Says Ripple Is Making Strategic Adjustments to Enhance XRP

    Ripple Unlocked 1 Billion XRP

    The recent 1 billion XRP worth $239.5 million reportedly unlocked by Ripple has always been initiated at the beginning of every month. This indeed does not necessarily imply that the firm has initiated a notable sell-off since the majority of the funds unlocked were returned into the escrow.

    Ripple Releases 1 Billion XRP, Returns 800 Million XRP Back into Escrow

    What was left for Ripple to cover its current needs is the sum of 200 million XRP.

    Ripple Releases 1 Billion XRP, Returns 800 Million XRP Back into Escrow

    Obviously, there is no reason to fear for XRP community members, since these usual transactions have no significant impact on the price of the digital asset.

    Ripple Moved 58.6 Million XRP

    As aforementioned, the XRP tracking platform, XRPL Monitor also reported that Ripple effected the transaction of about 60 million XRP over the past 15 hours.

    XRPL Monitor reported that three lumps of XRP were transacted consecutively, one of the transactions worth 20 million XRP, while the rest are 19.3 million XRP each.

    The first lump was wired to BitGo, a wallet and custodial service that works with institutional investors and stores XRP for Ripple, while the rest was moved between Ripple’s internal wallets.

    Read Also: Brad Garlinghouse Explains Why PayPal Did Not Include XRP in Its New Crypto Business

    At the time of publication, XRP, the fourth largest digital currency by market capitalization, is priced at $0.23596, with a 1.41% price plummet in the last 24 hours and a 7.45% price plummet in the last 7 days. The digital token has been trading in this range since early September.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

    According to Ripple’s senior vice president of product management and corporate development, Asheesh Birla, the payment firm is planning...

    David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

    Ripple CTO David Schwartz has recently pointed out that the XRP community could force Ripple to burn the over 50 billion XRP in its...

    Get Up To 100 USDT for Trading On Bitget Exchange. Here’s How to Apply

    According to a report, the Singapore-based deviation margin trading exchange, Bitget, is holding a new campaign that comprises Registration Gift and First Deposit Bonus...

    Charlie Lee: Litecoin (LTC) Visa Debit Card Is Now Open To All United States Residents

    As a report has it, Litecoin (LTC) Visa debit card can now be obtained by the holders of the digital token LTC that are...

    Brad Garlinghouse Discusses the Impact of XRP Regulatory Uncertainty on Ripple’s Customers

    Ripple CEO, Brad Garlinghouse, appeared on CNN International on 2nd December to discuss various development in the XRP ecosystem, including the impact of XRP...

    More Articles Like This