Ripple unleashed 1 billion XRP from escrow and transfered 58.6 million XRP, how’s about XRP price?
According to Whale Alert, in the past 12 hours, Ripple has unlocked 1 billion XRP from escrow. After that, about 800 million XRP was returned after its release. Moreover, things don’t stop there. Ripple continues to move $ 58.6 million to the BitGo exchange.
Ripple continued to unlock 1 billion XRP, but XRP price was not affected
On the first day of the month, Ripple will unlock 1 billion XRP. This amounted to $ 239.5 million. Soon after, Ripple blocked 800 million XRP, holding only 200 million XRP.
If, in the past, the unlocking of XRP in such a large amount would cause concern for the community but now, when they make this a habit, the XRP price does not seem to be affected at all. At press time, XRP price is trading around $ 0.236, down slightly by nearly 2% over the past 24 hours due to selling from the cryptocurrency market. To be more precise, XRP has been trading in this range since September 7th. It looks like XRP is unable to cross $ 0.3.
? ? ? ? ? ? ? ? ? ? 500,000,000 #XRP (120,111,160 USD) locked in escrow at Ripple
— Whale Alert (@whale_alert) November 1, 2020
Even so, we cannot deny XRP has made many breakouts as well. On February 15, for example, XRP rose to $ 0.33; then, on August 4, XRP reached $ 0.31, and finally, on August 17, XRP continued to rise to $ 0.32. But since then, the price has been steadily decreasing and stopped at $ 0.23.
In addition to issuing 1 billion XRP, Ripple has transferred nearly 60 million XRP to its internal exchanges and wallets. In total, there are three giant XRP transactions recorded so far. There are two transactions worth $ 19.3 million XRP and one worth 20 million XRP.
The first transaction was transferred to the BitGo exchange; the next two were transferred to Ripple’s internal wallet.
- Ripple Unlocks 1 Billion XRP, Worth $240 Million From An Escrow Account
- Ripple CTO David Schwartz Explained Why Banks Have Been Reluctant To Adopt XRP As A Bridge