Ripple closes 900 million XRP back on escrow account

Ripple has just closed 900 million XRPs on its escrow escrow account.

ripple 1 - Ripple closes 900 million XRP back on escrow account

As previously reported, traders were preparing for a possible sale, but this did not happen. However, 100 million XRPs of the previously issued 1 billion XRPs are still in Ripple’s main account.

Today, the Whale Alert service (@whale_alert) announced the reverse freezing of coins in several portions, 500, 300 and 100 million XRP:

As you know, Ripple has previously explained why funds are deposited and thawed. This is done to ensure transparency of sales and control over the cryptocurrency market. One goal is to avoid flooding the market with XRP tokens. Everyone can track and see for themselves how much is entering the market from Ripple. Thus, Ripple makes it clear that it is not engaged in speculation in the market, and even more so does not use the dump and pump scheme. Recently, Ripple also announced that it had reduced its sales in the cryptocurrency market by 50%. The main funds from unfrozen escrow accounts are put back into the blockchain for freezing, as we have seen again today.

As of this writing, the XRP has fallen 1.75 percent against the US dollar. XRP is currently trading at $ 0.229039.

Leave a comment

Your email address will not be published. Required fields are marked *