The seventh most valuable crypto asset by market value was recently unlocked from an escrow account.
Whale Alert, an advanced crypto tracker, monitored these large crypto movements, which occurred in two different 500 million XRP transactions worth $576 million in real-time some hours ago.
In simple terms, the implication of this is more liquidity in the Ripple network, as more investors will now have access to those XRP.
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🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 500,000,000 #XRP (287,790,398 USD) unlocked from escrow at Ripple Escrow wallethttps://t.co/m7b5Jp9uYy
— Whale Alert (@whale_alert) April 1, 2021
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 500,000,000 #XRP (287,790,398 USD) unlocked from escrow at Ripple Escrow wallethttps://t.co/nb3DgSjoMp
— Whale Alert (@whale_alert) April 1, 2021
The company had earlier set up a strategy where it released 1 billion XRP monthly for sale, for the purpose of funding its company operations, and to invest in start-ups of interest, with the rest kept back in the escrow accounts.
At the time of writing this report, XRP traded at $0.575498 with a daily trading volume of $4.8 billion. XRP price is up 2.5% for the day.
READ: Ripple lets go 1,000,000,000 XRP valued at $240 million
It has a circulating supply of 46 Billion XRP coins and a max supply of 100 Billion.
Meanwhile, there are strong fundamentals on the ongoing legal tussle with U.S SEC ending with a $100 million civil settlement with the powerful financial regulator and a promise to return funds US investors had put into its XRP token.
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Some leading crypto exchanges that include Coinbase are highly unlikely to undo their decision to ditch XRP until the SEC clears XRP security status, an issue that has been the bone of contention.
The settlement was an April fools joke! No settlement has been reached.
THIS is BULLSHIT…. “Meanwhile, there are strong fundamentals on the ongoing legal tussle with U.S SEC ending with a $100 million civil settlement with the powerful financial regulator and a promise to return funds US investors had put into its XRP token.”
What else do you cut and past w/o validating ?
There has been no settlement, why are you brain dead sheep publishing utter crap, just because it’s April’s fools day doesn’t mean you have to be one!