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The Daily Hodl
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1,000,000,000 XRP: Ripple Unlocks $442 Million in Crypto From Escrow

by Daily Hodl Staff
June 3, 2019
in Altcoins
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

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Ripple has unlocked 1 billion XRP from escrow, worth about $442 million at time of publishing.

The San Francisco startup will sell a portion of the funds to crypto exchanges and institutional participants and return the rest to escrow at the end of the month.

Source: Bithomp

Ripple, which owns more than half of the total supply of XRP, does not reveal the buyers. However, crypto whale watchers are constantly monitoring XRP movements from Ripple’s over-the-counter (OTC) wallets to unknown wallets, which indicate sales of XRP.

15,000,000 #XRP (6,228,576 USD) transferred from Ripple OTC Distribution wallet to unknown wallet

Tx: https://t.co/9DWUvbLqfX

— Whale Alert (@whale_alert) May 31, 2019

10,000,000 #XRP (4,068,289 USD) transferred from Ripple OTC Distribution wallet to unknown wallet

Tx: https://t.co/l7PbntjOoS

— Whale Alert (@whale_alert) May 26, 2019

Ripple typically sells a fraction of the total amount unlocked each month and releases an overview of the dollar amount of XRP sold each quarter.

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According to the company’s last report, Ripple sold $169.42 million worth of XRP in January, February and March.

Source: Ripple

Since 2016, Ripple has sold a total of $890 million in XRP – 34.4% to crypto exchanges and 65.6% to institutions, reports The Block.

Ripple’s sale of XRP recently triggered a lively debate on Reddit on whether it has an impact on the price of the leading digital asset.

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