• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Ripple plans to sell off all of its unlocked XRP before the end of 2023.

Ripple plans to sell off all of its unlocked XRP before the end of 2023.

user avatar

by Max Nevskyi

2 years ago


Ripple remains the largest holder of XRP, and most of its assets are in escrow mode until 2027. Every month, the company unlocks 1 billion tokens, maintaining the desired share and re-blocking crypto assets.

In December, Ripple retained 200 million XRP (20%), and the rest were again locked in an escrow account until April-May 2027. The address of the crypto wallet where the available reserves are stored is marked as "Ripple (1)" on the XRP Scan.

Usually, every month, the company transfers tokens to this account that it plans to keep, and then partially transfers them to several other unlabeled addresses, possibly controlled by the same owner. XRP is then sent to centralized exchanges.

At the moment, Ripple has already used 240 million XRP of the 200 million unlocked in December. This means that the company uses part of the accumulated reserves to sell before the end of the year.

It is worth noting that after receiving 200 million XRP from Ripple on December 1 (22), sales were divided into three parts: First, 60 million was spent on December 6, then another 60 million six days later. On December 20, Ripple made a transaction worth 120 million XRP.

Interestingly, Ripple has 96.34 million liquid XRP remaining, which can be sold at any time. This amounts to $57.87 million, considering the current XRP price of $0.61.

Ripple's total sales for December were $148.80 million, which certainly affects the XRP offering. Thus, those who claim that Ripple has nothing to do with XRP are mistaken, since the company directly affects the economic dynamics of the token.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Target Cuts Prices on Thousands of Items to Boost Sales

chest

Target announces price cuts on 3,000 items to attract customers and boost sales.

user avatarLi Weicheng

Across Protocol Considers Revolutionary Token-for-Equity Swaps

chest

Across Protocol is considering a significant structural change by proposing token-for-equity swaps, which could revolutionize DeFi.

user avatarAisha Farooq

Stablecoins Recognized as Key Winners in Cryptocurrency Market

chest

Stablecoins are recognized as the only clear structural winners in the cryptocurrency market due to their ties to physical assets like the dollar.

user avatarTenzin Dorje

New Research Paper Addresses Quantum Computing Threat to Bitcoin

chest

A report from ARK Invest and Unchained discusses the potential impact of quantum computing on Bitcoin's cryptography, concluding that while it is a long-term concern, it is not an immediate threat.

user avatarBayarjavkhlan Ganbaatar

South Korea Launches AI System for Cryptocurrency Tax Tracking

chest

South Korea's National Tax Service is developing an AI system to track cryptocurrency profits for taxation starting in 2027.

user avatarMohamed Farouk

Ethereum Outpaces Bitcoin in Growth of Nonempty Addresses

chest

Ethereum has significantly outpaced Bitcoin in the growth of nonempty addresses, indicating strong adoption.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.