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Ripple Released 3 Billion XRP from Escrow in Q3, Here's What Happened to Most of Them

Fri, 10/28/2022 - 08:51
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Gamza Khanzadaev
Ripple reveals huge figures on its XRP escrow transactions in its latest Q3 report
Ripple Released 3 Billion XRP from Escrow in Q3, Here's What Happened to Most of Them
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Ripple has not stayed away from the disclosure period and has submitted its Q3, 2022, report. As we learned from the document, 3 billion XRP were released from the crypto company's escrow accounts in the three months between July and September.

However, acting in line with its intended policy to ensure the predictability of XRP's supply on the market, Ripple returned most of it, namely 2.1 billion tokens, back. On the one hand, this somewhat characterizes the current demand, or rather lack thereof, of XRP and other cryptocurrencies in general. On the other hand, only 900 million additional XRPs have entered the market through various channels, which seems optimal enough for not exerting additional pressure on the current XRP price.

More interesting insights from Ripple report

Equally interesting were statistics on the use of RippleNet and the On-Demand Liquidity technology that Ripple supplies to its partners. The use of both products has increased significantly, with a direct impact on XRP turnover.

Main XRP Ambassador in LatAm Doubles User Base in Year: Details

Thus, according to the data, the number of ODL transactions increased by 130% quarter-on-quarter, and their share in total XRP turnover reached 25%. Such extensive growth is primarily due to the expansion of Ripple's business, which is actively developing its partner network that now operates in 20 countries.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.