The fourth largest crypto asset by market value, XRP recently released approximately 1 billion XRP worth approximately $ 1.6 billion from an escrow account.
Whale Alert, an advanced crypto tracker, tracked the massive real-time transactions that took place on two different 500 million XRP transactions valued at approximately $ 1.6 billion, primarily to fund operations and venture capital. The rest was held in escrow accounts.
500,000,000 #XRP (795,433,689 USD), unlocked by the escrow at Ripple Escrow wallethttps: //t.co/gQXvkEmsCf
– Whale Alert (@whale_alert) May 1, 2021
500,000,000 #XRP (795,433,689 USD), unlocked by the escrow at Ripple Escrow wallethttps: //t.co/58EBeAflhS
– Whale Alert (@whale_alert) May 1, 2021
In simple terms, such transactions increase the liquidity on the Ripple network as more people gain access to purchase the fourth major crypto.
What They Show You Know About Ripple (XRP)
Ripple (XRP) plays a dual role as a payment platform and currency. The platform is an open source platform designed to enable fast and inexpensive transactions.
At the time of this writing, XRP was trading on the FTX exchange at $ 1.59 with a daily trading volume of $ 13 billion. XRP is up 4.17% on the day. Its current market value is 73 billion with 45,404,028,640 XRP coins in circulation and a maximum supply of 100,000,000,000 XRP coins.
Unlike its leading crypto (Ethereum and Bitcoin), which was never intended to be a payment system, Ripple has caught the attention of major global banks like Standard Chartered and Barclays for international transactions worldwide.
During the week, XRP saw its value surge, up nearly 40%, as investors bet Ripple would come to terms with the Securities and Exchange Commission. However, the price patterns show that the XRP is still down 52% from the record set on Jan. 4, 2018 of $ 3.29.
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