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700 Million XRP Locked Back by Ripple, 300 Million to Be Dumped on Market

Tue, 05/02/2023 - 14:00
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Yuri Molchan
Ripple has locked back lion's share of recently released billion XRP
700 Million XRP Locked Back by Ripple, 300 Million to Be Dumped on Market
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Popular crypto tracking service Whale Alert spreads the word that after releasing a staggering billion XRP from escrows on May 1, Ripple Labs behemoth has put back 70% of that amount – 700 million XRP.

A total of 300 million XRP tokens are likely to be injected onto the crypto market.

Ripple conducts regular monthly escrow operations

The fiat equivalent of the billion XRP released by the company on May 1 is $470 million. Ripple has been withdrawing a billion XRP each month since January 2018. This has been part of the company's strategy to maintain the stable supply of XRP on the market and spark interest from financial institutions.

Returning 700 million or 800 million XRP to escrow is normal for the blockchain giant, and it also extends the term of the XRP release program. These monthly XRP withdrawals have no impact on the coin's price, although, during the first few years, many in the XRP community were afraid it would and even started a petition to persuade Ripple to stop that practice.

Image via Twitter

Two XRP Pairs Delisted From Binance: Here's What Happened

Whale grabs 24.7 million XRP on Binance

Whale Alert also reported that about an hour ago, an anonymous whale transferred a total of 24,757,056 XRP (the equivalent of $11,377,133) from the leading Binance exchange to their wallet. This likely signifies a purchase on the dip.

The sixth largest cryptocurrency, XRP (not native for Ripple, though), is now changing hands at $0.4613, according to data provided by CoinMarketCap. During the last 24 hours, the coin's price went down by less than 1%.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at