Are The XRP Tokens In Escrow At Risk Of Being Sold? Ripple CTO Shares Insights
XRP locked escrow tokens have long been perceived as untouchable, yet recent statements from Ripple CTO David Schwartz have stirred debate about what “locked” truly means. Questions around whether Ripple could sell or transfer these tokens have spread across the crypto community, sparking further discussions about market supply, institutional strategies, and potential market impact. XRP […]
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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....
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....
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....
The XRP Ledger has activated Token Escrow (XLS-85) on mainnet on Feb.12, extending the network’s native escrow mechanics beyond XRP to Trustline-based tokens (IOUs) and Multi-Purpose Tokens (MPTs). The amendment was enabled today with 88% consensus (30/34 validators) and was introduced in rippled v2.5.0 under the XLS-85 specification. Escrow, But For Every Asset On XRP […]
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....