Ripple announced the locking of 700 million XRP in escrow, accompanied by changes in its approach to supply management and integration with the traditional financial system.
Three Transactions Worth $2 Billion
According to blockchain tracker Whale Alert, Ripple has locked up 100 million, 500 million, and another 100 million XRP in escrow. These transactions occurred following two large incoming transfers of 200 million and 300 million XRP from an unknown wallet, presumably linked to the latest escrow cycle. Ripple typically unlocks 1 billion XRP at the start of each month and then locks most of it back, usually around 800 million.
XRP Price Dynamics Following Fed News
This week, XRP experienced price volatility after the U.S. Federal Reserve confirmed it will not be cutting interest rates anytime soon, creating caution in the markets. XRP fell over 10% from its recent high of $3.32. It briefly reclaimed the $3 mark but then dropped back again to trade around $2.98.
XRP as a Tool for Tokenizing Global Finance
According to Teucrium CEO Sal Gilbertie, XRP is heading towards more ambitious goals than fast payments. 'Ripple will move trillions and tokenize the entire financial system,' he stated in a recent interview. The company has acquired a broker-dealer, which will provide the infrastructure for deep integration with traditional financial systems. The XRP Ledger is also being pitched as a base layer for RealFi, real-world assets on the blockchain, potentially tapping into a $196 trillion opportunity.
Ripple's escrow activity shows that the company continues to carefully manage XRP's supply while also laying the groundwork for significant changes in integrating real-world finance with blockchain.
