One Billion XRP Is Released From Escrow – XRP Price Predictions
Ripple and XRP have been making headlines a lot this year, due to all kinds of achievements and also controversies.
Ripple has been enjoying new and important partnerships while boosting its products and promoting the adoption of XRP as well.
The company has been accused of centralization because they own such a huge chunk of XRP but also made sure to respond and deny such rumors, saying that XRP could very well exist without the company as well.
One billion XRP released from escrow
It’s been just revealed that one billion XRP owned by Ripple has been just released from escrow, and the coins have been made available by the company to sell to institutions and crypto exchanges.
This is part of the monthly routine that has been set up by Ripple in late 2017.
Back then, you may recall that Ripple locked 55 billion XRP into separate escrow accounts, and each account contained 1 billion XRP.
On a monthly basis, 1 billion XRP is unlocked from escrow, and the amount that Ripple will not sell is placed back 30 days later.
Ripple will never sell all holdings on the open market at once
This procedure has a simple goal: assuring investors that Ripple will never sell all of its holdings on the open market at once.
“To provide additional predictability to the XRP supply, Ripple has locked 55 billion XRP (55% of the total possible supply) into a series of escrows,” according to official notes.
The notes continue and explain that “These escrows are on the ledger itself and the ledger mechanics, enforced by consensus, control the release of the XRP.”
XRP’s price in the crypto market
Regarding the price of XRP, it lagged a lot during 2019 compared to the price of Bitcoin and Ripple was criticized that its sales of XRP are keeping the price of this coin from rising. They denied these rumors as well.
Speaking of pricing, at the moment of writing this article, XRP is trading in the red and the coin is priced at $0.219647.
Regarding XRP price-related predictions, Alex Kruger made headlines recently after releasing a chart.
Unlike XRP, Bitcoin-related predictions seem to be more positive in the crypto market these days, despite the huge volatility that we are seeing on a daily basis.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.