Ripplehas unlocked a large amount of XRP from escrow, taking a significant step that has sparked debate in the crypto community and the wider circle of the XRP coin. The release of 500 million XRP, coupled with the current downward trend of the XRP price, has caused concerns among investors and viewers. At the same time, it is observed that the XRP price tends to continue to show bearish momentum following Ripple’s strategy.
Ripple Unlocks 500M XRP Amid Price Crash
Ripple recently conducted the release of 500 million XRP from escrow accounts, as reported by Whale Alert. This amount was released in two transactions, first 200 million XRP and then 300 million XRP.
This move is expected to be considered as part of Ripple’s 1 billion XRP monthly release strategy. This strategy aims to increase liquidity in the XRP market and facilitate cross-border transactions. However, the release of such a large amount of XRP appears to have contributed to the ongoing decline in the XRP price.
The XRP community has been expressing concerns about the possible impact of Ripple’s escrow releases on the XRP price. These releases are important to ensure liquidity and meet the demands of businesses and partners; However, it usually causes a temporary decrease in the price of XRP due to increased supply.
However, despite short-term price fluctuations, Ripple continues to adhere to its strategy of regular escrow releases to ensure the availability of XRP for a variety of use cases. This approach reflects Ripple’s long-term vision to establish XRP as a trusted asset to facilitate seamless cross-border transactions.
Price Movements Amid Strategic Movement
The release of 500 million Ripple aims to advance its mission to revolutionize cross-border payments through XRP and cope with the fluctuations of the crypto market by managing liquidity needs in a balanced way.
It is important to note that at the beginning of April, Ripple released another 500 million XRP. However, it had previously been seen that a significant portion of the 1 billion XRP released to stabilize Ripple’s price movements was locked.
XRP price is trading at $0.6099, down 1.13%, and yesterday’s trading volume was down 51% to $1.19 billion. Despite the recent decline, the XRP cryptocurrency has gained more than 5% in the last seven days while falling 12% on a monthly basis.
