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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
Ripple Moves And Locks 1.5 Billion USD XRP Into Escrow Account: Why Are They Doing This?
As is customary on a monthly basis, Ripple transferred nearly $1.5 billion in XRP in two key escrow transactions, locking a total of 680 million XRP on June 1. While most investors are unaware of such moves by the company, these moves have sparked discussions in the community According to Whale Alert, the first transaction involving 470 million XRP ( was worth approximately 1.03 billion dollars ); while the second transaction secured 200 million XRP ( worth nearly 437 million dollars ). Both transactions are part of Ripple's long-term supply management strategy, announced in 2017.
With XRP having garnered significant attention over the past few months, such transactions are quickly noted by investors. These transactions—especially if they reach billions—also significantly impact the price of XRP, often tending to increase selling pressure in the market. According to data from CoinMarketCap, XRP has a total supply of 99.98 billion, of which 58.57 billion XRP are in circulation. Market data shows that XRP is currently trading at around $2.16—down 7.6% over the past 7 days, in line with Bitcoin's downward trend and the overall bearish sentiment in the cryptocurrency market. Why does Ripple lock XRP in the escrow account? Since the first escrow lock of 55 billion XRP—55% of the total supply—in 2017, Ripple has continuously locked nearly 1 billion dollars worth of XRP on the XRP Ledger. The goal behind the XRP escrow lock is to enhance the predictability and transparency of its circulating supply, while addressing concerns that Ripple could flood the market with its significant holdings. According to this schedule, Ripple regularly releases 1 billion XRP from its escrow account each month, using a portion for operational needs such as funding partnerships or selling to institutions, and escrowing the remainder. The mechanism of the XRP Ledger ensures that these tokens are inaccessible until they are released as designated, a process praised for reducing market volatility. The additional transaction of 200 million XRP on June 1 may represent a re-escrow, with the amount reserved for issuance, as the unused tokens are scheduled to be available in the first month without a prior escrow.