Ripple Unlocks Another Billion XRP
Ripple, the leading blockchain company, has unlocked another 1 billion XRP from escrow as part of its monthly release strategy. This strategy helps maintain XRP liquidity in the crypto market and facilitates cross-border transactions for businesses. However, the increased supply temporarily impacts the price of XRP.
Key Points:
– One billion XRP was unlocked from escrow in four transactions, totaling over $500 million.
– A whale transferred 19.92 million XRP worth over $10 million to Binance after the XRP unlock.
– Ripple provides liquidity amid high demand for XRP from businesses, partners, and exchanges.
– Ripple CEO Brad Garlinghouse confirmed a party in New York City on September 29 to celebrate their victory against the U.S. SEC.
– An analysis predicts a 12% breakout to $0.6 for XRP price, with the one billion XRP unlocks providing liquidity for a rebound.
Hot Take:
The unlocking of 1 billion XRP by Ripple and the subsequent increase in supply may temporarily affect the price of XRP. However, this move allows Ripple to maintain liquidity and support cross-border transactions, which is essential for businesses leveraging XRP. The upcoming XRP price breakout and Ripple’s victory celebration further highlight the positive developments surrounding the company.
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