XRP Price Stable as Ripple Unlocks 1 Billion Tokens From Escrow Wallet
William Suberg's original article for cointelegraph.com reduced by 78%
Ripple, the blockchain payment network notionally tied to altcoin XRP, has begun 2020 by releasing funds from its escrow worth $192 million. Data scanned from the XRP blockchain by monitoring resource Whale Alert caught the latest consignment of XRP tokens, which forms one installment of a pre-planned release schedule Ripple began in 2017.Ripple continues 55-month escrow schedule. "You can expect us to continue to use XRP for incentives to market makers who offer tighter spreads for payments and selling XRP to institutional purchasers." Prior to the scheme beginning, Ripple was selling around $300 million in XRP each month.
The escrow movements have further failed to stem a dramatic decrease in the price of XRP relative to both Bitcoin and the US dollar. This week Ripple chief technology officer David Schwartz claimed that XRP purchases did not actually make Ripple any richer. XRP barely reacted to the escrow release, steadying at just above $0.19 while other major altcoins fell by around 1%..
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