Ripple just unlocked another 1,000,000,000 XRP ($ 230 million) from its deposit wallet as usual at the beginning of the month.
Traders are traditionally preparing for a possible sale, as Ripple opens another 1,000,000,000 XRP ($ 230 million) from its deposit wallet. Although monthly unlocking has become a common practice, it is constantly criticized. A reasonable question still arises: why does Ripple need more than $ 200 million every month?
The Ripple team said that according to the protocol it is doing an unlocking procedure of one billion XRP every month.
This was reported by Whale Alert (@whale_alert) earlier today in two separate unlocks of 500 million XRP each.
— Casper™ (@caspercrypto) March 1, 2020
However, Ripple has previously explained why funds are deposited and thawed. This is done to ensure sales transparency and control the flood market with XRP tokens. Everyone can track and see for themselves how many enter the market from Ripple. Also see how this affects the Ripple XRP course. Recently, Ripple also stated that it had virtually no cryptocurrency sales. Fixed assets from defrosted Escrow accounts are put back into the blockchain for freezing.
Also, earlier, Ripple said it was cutting sales of XRP tokens on the cryptocurrency market by 50%.
At the time of writing, the XRP rate has fallen by 0.72 percent compared to Bitcoin (BTC). He bounced off his local low of $ 0.225, which he tested on February 27th. XRP is currently trading at $ 0.235.