EddieJayonCrypto
2 Apr 25
According to Whale Alert data, Ripple has locked 700 million XRP tokens in escrow as part of its ongoing program. Ripple releases 1 billion XRP monthly from escrow for institutional sales and operational expenses. Last month, 700 million XRP similarly went back into escrow without the scheduled rele...
Ripple has locked 700 million XRP tokens in escrow as part of its ongoing program. The company releases 1 billion XRP monthly from escrow for institutional sales and operational expenses. Last month, 700 million XRP similarly went back into escrow without the scheduled release. Ripple continues to own over 40% of the total XRP supply and might reduce XRP sales in the future to ease price pressure. Ripple withdrew its cross-appeal against the SEC, affecting XRP's price minimally, with little volatility due to escrow-related developments.
According to data provided by Whale Alert, 700 million XRP tokens have been locked by Ripple in an escrow as part of its long-standing program. Ripple releases 1 billion XRP on a monthly basis to ensure that the supply of the leading altcoin remains predictable. The released XRP tokens are used for institutional sales, operational expenses, and other purposes.
Ripple typically returns a certain portion of tokens to escrow. Last month, 700 million XRP similarly went back into escrow without the scheduled 1 billion token release. The escrows with 700 million tokens were created from surplus XRP in the company's accounts. Ripple CEO Brad Garlinghouse recently did not rule out that the company might reduce its XRP sales in the future, potentially easing pressure on the token's price. Ripple continues to own more than 40% of the total supply of the XRP token. Last month, Ripple withdrew its cross-appeal against the U.S. Securities and Exchange Commission (SEC) after the agency agreed to ask the court to drop the injunction that has blocked the company from selling XRP tokens to institutional clients. The price of XRP has been unaffected by Ripple's recent moves as the token remains mostly flat, down by a mere 0.2% over the past 24 hours, according to CoinGecko.