Home Altcoin Ripple release 100 million XRP, worth about $23.82 million

Ripple release 100 million XRP, worth about $23.82 million

On Tuesday, the price of the third largest coin, XRP, started surging, along with the rest of the crypto market, and briefly regained the $0.24 spot. At press-time, the coin is trading at $0.23 after a tiny slump. Still, CoinMarketCap is showing an XRP growth of 7.23 percent.

Meanwhile, Ripple has unlocked 100 million XRP from its escrow wallet. Some in the community believe that price manipulation is taking place since the stash has been unlocked amidst a long-awaited price growth. The transaction was detected and reported by Whale Alert.

Ripple unlocks another large portion of XRP

100 mln XRP ($23,823,138) has been unlocked from Ripple’s escrow amidst the coin’s long-awaited price surge. In the past, the Ripple CEO Brad Garlinghouse assured the community that Ripple is unable to manipulate the XRP price and is not interested in keeping it low.

However, XRP holders in the comment thread seem to believe the contrary, fearing that another portion of XRP has been released to bring profit to Ripple without caring about what effect it may have on investors.

One of the users who responded negatively to this tweet, was @_Crypto_Maniac_. Previously, he had tweeted unconfirmed insider information that the XRP price is on its way to hit $50 soon.

As reported by Paperblockchain earlier, on January 1, Ripple unlocked a gargantuan amount of over 1 bln XRP. However, a large part of it was later returned to escrow.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron (TRX) network. Just like the tokenized BTC created using Ethereum’s ERC20...

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple...

US Department of Transportation Says Blockchain Has Many Applications For Unmanned Aircraft Systems (Drones)

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US...

Security tokens, blockchain settlement draw interest from institutions: MIT Bitcoin Expo panel

Amid growing competition between providers, institutions in the traditional finance space are looking at blockchain as another way to offer value to...

Networking 2.0 at Blockchain Life 2020

Make hundreds of connections at Blockchain Life 2020 The 5th Blockchain Life 2020 returns to Moscow on April 22-23 at the unique media...