Ripple's CTO, David Schwartz, responded to user questions about the release of XRP from escrow, clarifying common misunderstandings.
XRP Escrow Happens on the 1st of Each Month
User Lorrentz expressed doubt about the escrow schedule being able to change randomly. According to him, public trackers like XRPScan have recorded random dates including August 9. Schwartz confirmed that escrow contracts always occur on the 1st of each month as per programming. He also explained that ledger updates might not happen immediately, as it awaits a transaction submission to notify of fund movements.
Ripple Cannot Randomly Change the Escrow Schedule
According to Schwartz, Ripple does not have the authority to change the escrow date arbitrarily or release all XRP at once. However, the company determines how to utilize XRP after it is released. So if transactions happen days after the 1st of the month, it may appear as a random date. In reality, the funds were available from the first as programmed.
Institutional Interest in XRP Surges Post-SEC Case
Meanwhile, institutional interest in XRP has spiked following the closure of the lawsuit between Ripple and the SEC, as several firms are adding XRP to their portfolios. For instance, Digital Wealth Partners Management reported securing $200 million in capital in the form of XRP, suggesting potential price increases with growing investor interest.
David Schwartz's responses provided clarity on programmed issues and confirmed the stability of the escrow schedule amidst rising market interest in XRP.
