Massive Token Unlock: Ripple Releases One Billion XRP From Escrow

2023-6-2 19:00

Ripple, the blockchain company behind the XRP, has released 1 billion XRP tokens from its escrow. The firm previously locked the coins in the escrow system to ensure the XRP ecosystem and market stability.

Ripple’s Monthly Unlock Of 1 Billion XRP Tokens

According to data from the on-chain analytics firm Whale Alert, Ripple Labs unlocked 1 billion XRP tokens on June 1, corresponding with its unlocking schedule. Whale Alert captured the three transactions that completed Ripple’s token unlock plans.

Firstly, Ripple unlocked 300 million XRP tokens worth over $154.58 million in the current crypto market prices. The second transaction involved the release of 200 million XRP tokens from Ripple’s escrow worth $103.19 million. And in the last transaction, Ripple unlocked 500 million XRP coins from its escrow system worth over $257.99 million.

A Brief On Ripple Escrow System

Ripple developed the escrow system for locking XRP tokens in 2017. The firm locked 55 billion XRP in a “series of escrows” on the ledger, making up 55% of the token supply. 

Each escrow contains 1 billion XRP, which the blockchain firm plans to unlock monthly over 55 months. 

According to XRPL.org, the aim is to provide predictability to the token supply. As such,  the ledger mechanics are enforced by consensus to enable the release of 1 billion tokens at the scheduled time. 

The blockchain company releases the token periodically in a controlled method. This serves as a measure of maintaining stability in the XRP market.

The latest unlock of XRP is part of Ripple’s vision of satisfying investors’ demands and supporting the growing XRP ecosystem.

Also, the firm ensures that all unused XRP tokens are moved back to the escrow system, which helps extend the runway for the rest of the tokens to be unlocked.

 XRP Price Action

The latest release of XRP tokens has not impacted the price of XRP in the market. At the time of writing, XRP price trades at $0.5080, indicating a surge of 0.1% over the past 24 hours. Data from CoinMarketCap shows that XRP saw more than a 15% increase over the past 7 days.

On May 31, the crypto on-chain analytics firm, Santiment reported XRP as the top trending crypto asset. Also, the number sixth-ranked crypto by market cap witnessed over a 22% rise in value within the past 19 days. 

Santiment also disclosed that address activity on the XRP network reached a historic high, and crowd optimism hit the highest social volume.

The XRP crowd optimism could be connected to the ongoing Ripple vs. SEC lawsuit, which many expect Ripple to win.

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xrp escrow billion ripple system coins locked

Источник: newsbtc.com

xrp escrow → Результатов: 126


Фото:

Ripple Labs releases 1 billion XRP coins from escrow

Ripple Labs has today unlocked 1 billion XRP tokens from escrow as part of the monthly XRP token distribution. Today’s token unlock was done in three different transactions from escrow. The San Francisco-based fintech company has been at the top of crypto news in the recent past for its ongoing court case with the US […] The post Ripple Labs releases 1 billion XRP coins from escrow appeared first on Invezz.

2023-6-1 10:42


Something is Wrong With Ripple’s XRP Escrow Reporting

Blockchain analysis and data firm, Coin metrics, has published a report that claims Ripple’s reports on their escrow service for XRP should probably be taken with a pinch of salt. This is because it found a few significant inconsistencies between the actual information found on the XRP ledger and what Ripple reports as the specifics […] The post Something is Wrong With Ripple’s XRP Escrow Reporting appeared first on ZyCrypto.

2019-5-18 08:42


На эскроу-счете Ripple разморожены 1 млрд токенов XRP

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Users, especially the ‘XRP Army,’ have always been excited about being notified about Ripple and news about its tie-ups and developments. The latest development out of Ripple’s stables is its Q1 report for 2019, which provided insight into the amount of XRP taken out from the escrow account and an overall overview of the company’s […] The post Ripple’s Q1 report called out by Messari Crypto Founder over manipulation of facts appeared first on AMBCrypto.

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Q1 2019 XRP Markets Report

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