Ripple: 800M XRP Returned, Whale Adds Millions
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The locking of the 800 million XRP back into escrow involved three transactions. First, half a billion XRP, equivalent to $304,378,440, was secured in Ripple's escrow. Subsequently, a second tranche of 200 million XRP, valued at $121,705,709, was locked, followed by a third transaction of 100 million XRP, or $60,893,306.
Ripple's Escrow Strategy and Bullish Signals in XRP
Ripple instituted its escrow system in 2017, committing to releasing 55 billion XRP over 55 months in consistent monthly installments of 1 billion XRP. This mechanism provides a predictable avenue for transferring XRP to the market, mitigating unforeseen shocks or price impacts.
While the entirety of the monthly 1 billion XRP released is not immediately sold or utilized, Ripple typically returns around 800 million XRP to the escrow. The remaining 200 million XRP is retained for covering operational expenses and other business ventures. Additionally, a notable 17.9 million XRP recently left the Bitso crypto exchange, signalling a transfer of assets into storage. Such exchange outflows are often interpreted as a bullish indicator, suggesting investors anticipate a potential rise in prices and opt to hold onto their assets.