According to a quarterly report by Ripple, the San Francisco-headquartered company currently holds 4.682 billion XRP tokens in its wallets.
On top of that, it also has 39.5 billion XRP tokens that are subject to on-ledger escrow lockups.
Ripple initially introduced the escrow system back in 2017, locking away 55 billion tokens. The company unlocks a billion tokens on a monthly basis, according to its predetermined schedule. It is worth noting that Ripple also routinely re-locks some of its newly released tokens.
Earlier this year, Ripple CTO David Schwartz explained that Ripple's escrow tokens could be burned by "blackholing" the associated accounts. However, such a scenario seems to be far-fetched.
According to Schwartz, Ripple's original plan was to use giveaways, but they stopped being a viable option after the XRP price gained a market price. "We tried a variety of other things such as sales with lockups and using XRP to incentivize partners. And what we discovered was that everything that worked with more or less no different from selling XRP," he added.
Key highlights from a recent report
According to Ripple's quarterly report, XRP saw elevated volatility in the second quarter, with its realized volatility remaining above 90%. However, realized volatility ended up decreasing to 45% during the second part of the quarter.
Tomiwabold OlajideMeanwhile, on-chain activity on the XRP Ledger was substantially lower compared to the previous quarter.
During the second quarter, Ripple also revealed the name of its stablecoin and continued its long-lasting legal fight against the SEC.
Tomiwabold Olajide
Denys Serhiichuk
U.Today Editorial Team
Vladislav Sopov
Dan Burgin