Why Does Ripple Return Unlocked Tokens To Escrow? Pro-XRP Lawyer Provides Ans...
Ripple usually returns a substantial part of its unlocked XRP tokens following every monthly release of 1 billion tokens from its escrow system. Justifying this move, pro-XRP legal expert Bill Morgan explained why Ripple does this rather than leaving these tokens in circulation. Why Ripple Returns Some XRP Tokens To Escrow In a tweet shared on his X (formerly Twitter) platform, Morgan suggested that Ripple’s decision not to sell most of the XRP released each month is one of the steps the firm takes to “support XRP’s price.” Morgan is likely referring to the fact Ripple selling all the 1....
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The XRP price has already been under pressure for the past month, as the future outlook of Ripple is still set to be determined in the near future. Although XRP has moved up with the rest of the crypto market over the past few days of green, there is still uncertainty about the next bull run. However, this little price movement could be brief, as the number of XRP tokens in circulation just increased by 1 billion XRP, around 1.87% of the circulating supply of 53.312 billion tokens. Related Reading: CRV Price Surges 16% – What’s The Next Move For Curve DAO Token? Potential Impact On XRP....
Although the XRP price has witnessed a decline along with the overall crypto market since the beginning of October, recent price action shows XRP is consolidating in the $0.5 support level, suggesting the early stages of a rebound may be brewing. In addition to this, on-chain data has revealed some whales are expanding their holdings in preparation for the rebound. Large XRP Transactions Hint At Accumulation Various on-chain data has shown large XRP transactions in the past few weeks to and from exchanges, suggesting some whales might be accumulating XRP tokens. Related Reading: Why Does....
Ripple advocate, John Deaton has gone all in, placing a substantial bet on XRP’s value by flooding his crypto holdings with XRP tokens. This is despite the significant risks associated with the cryptocurrency due to its legal battle with the US SEC. Deaton Pumps Crypto Portfolio With XRP Pro XRP Lawyer, John E. Deaton has […]
XRP has struggled to regain bullish price momentum this month, with the crypto going on six days of red candle close last week. The XRP community appears to be feeling the effects of this lack of momentum, as speculations have begun to circulate about a potential catalyst for the next XRP price surge. Related Reading: What To Expect This Month For XRP Price According To Historical Data Word on the street now is that Ripple plans to burn the 41.9 billion XRP tokens they have locked up in escrow. Although this hasn’t been confirmed yet, some say this move could send the value of XRP....
Ripple (XRP) is in bearish mode and was down 1.93% as seen overnight. Moreover, Ripple has recently freed up over 1 billion XRP tokens coming from two separate escrow wallets. Currently, the crypto trades at $0.38 on the biggest spot exchanges. Ripple has evidently locked over 55% of XRP’s total supply in escrows way back 2017. Analysts believe that its bearish sentiment or weakness is relevant to Bitcoin’s failure to surpass the $24,000 mark as opposed to the controversial unclasping of new tokens that happened recently. In effect, Ripple is trying to restore most of the tokens that....