One Billion $XRP ($690M) is on the move! What does it mean? Read more here -
1 billion XRP currently equates to roughly $690 million – a number worth looking into.Whale Alert notified that the transactions were sent out from Ripple Labs’ escrow wallet. These are regular monthly transactions.
To those unaware, Ripple Labs has placed 55 billion of its XRP in an escrow account that’s cryptographically secured. With the aim of providing some clarity and also alleviating potential market stress, the company has also put limitations on how much XRP it can sell per month. This amount is capped at 1 billion XRP. Whatever the company doesn’t sell gets returned to the escrow account.for the first quarter of 2023, the company sold some $361 million worth of XRP in the first three months of the year.
Ripple’s price is down 2.3% in the past 24 hours, but that’s unlikely related to the somewhat expected release of XRP tokens from Ripple Labs. On the contrary, the cryptocurrency is seemingly following the trajectory of the broader crypto market, which is also struggling in the past day.
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