U today ripple unlocks 1 billion xrp while exchanges move 70 million xrp

Ripple Unlocks 1 Billion XRP, While Exchanges Move 70 Million XRP

Today, on May 1, Ripple DLT decacorn has unlocked another billion of XRP tokens.

Ripple kicks out another billion XRP

The release was made in two transfers, 500 million coins each. It is executed on the first day of each month, has been for several years already.

At the current XRP price of $1.57, this constitutes a whopping $1.6 billion.

The goal is to support the liquidity of the token on crypto exchanges, send some to Ripple’s partners and customers and use XRP for covering the company’s current operational expenses.

However, the majority of the released coins, around 80%-90%, is usually locked back later the same day.

Unlike fears of some in the community in the past, these programmed XRP withdrawals from escrow do not impact the coin’s price.

Image via Twitter

Ripple helps crypto exchanges move 70 million XRP

According to the recent tweets posted by Whale Alert blockchain tracker, in the past ten hours, 69.7 million XRP has been transferred by Ripple and several major crypto exchanges.

Platforms that have taken part in these transfers are Bittrex, Huobi, Upbit, Bitstamp and BtcTurk (one of the leading digital exchanges in Turkey).

From these transactions, Ripple pushed another 7.6 million XRP to the Huobi exchange and moved 10 million XRP to Bitstamp.

The latter operates as one of Ripple’s ODL corridors and is located in Luxembourg, EU.

Image via Twitter

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Источник

Ripple Unlocks 1 Billion XRP As Coin Trades in $0.43 Range

Following its monthly tradition, on March 1, blockchain behemoth Ripple let a staggering one billion XRP tokens out of escrow, as reported by Whale Alert crypto tracker.

Meanwhile, the XRP token has remained around the $0.43 price line for a week already.

Another billion XRP out of escrow

Earlier today, Ripple fintech monster has unleashed a billion XRP in two transactions carrying 500 million coins each.

This event occurs every first day of the month: Ripple automatically unlocks $415,018,398 worth of XRP to support the market liquidity of the coin by sending it to crypto exchanges and perhaps sending some to its regular customers.

Image via Twitter

XRP trading in the $0.43 range

These regular releases of XRP have proved to have zero impact on the price of the coin. The SEC lawsuit has been much more influential in this respect as the coin has been unable to recover to its earlier high of $0.78 reached on Feb. 1.

XRP has been trading in a range near the $0.43 level for about a week now.

MoneyGram is struggling without Ripple’s cash

As reported by U.Today earlier, on Friday it became known that after suspending its partnership with Ripple, MoneyGram remittance giant has been struggling to find another source of financial inflows that could replace the blockchain decacorn helmed by Brad Garlinghouse.

Last week, MoneyGram also collapsed about 40 percent. The company announced that it would suspend collaboration with Ripple on Jan. 22.

However, JMP Securities’ David Scharf believes that this cooperation is nothing more than a marketing gimmick; Ripple was allegedly simply paying MoneyGram to use its On-Demand Liquidity (ODL) product for cross-border cash transfers.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Источник

Ripple Unlocks 1 Billion XRP, While Exchanges Move 70 Million XRP

Today, on May 1, Ripple DLT decacorn has unlocked another billion of XRP tokens.

Ripple kicks out another billion XRP

The release was made in two transfers, 500 million coins each. It is executed on the first day of each month, has been for several years already.

At the current XRP price of $1.57, this constitutes a whopping $1.6 billion.

The goal is to support the liquidity of the token on crypto exchanges, send some to Ripple’s partners and customers and use XRP for covering the company’s current operational expenses.

However, the majority of the released coins, around 80%-90%, is usually locked back later the same day.

Unlike fears of some in the community in the past, these programmed XRP withdrawals from escrow do not impact the coin’s price.

Ripple helps crypto exchanges move 70 million XRP

According to the recent tweets posted by Whale Alert blockchain tracker, in the past ten hours, 69.7 million XRP has been transferred by Ripple and several major crypto exchanges.

Platforms that have taken part in these transfers are Bittrex, Huobi, Upbit, Bitstamp and BtcTurk (one of the leading digital exchanges in Turkey).

From these transactions, Ripple pushed another 7.6 million XRP to the Huobi exchange and moved 10 million XRP to Bitstamp.

The latter operates as one of Ripple’s ODL corridors and is located in Luxembourg, EU.

Crypto News is the news aggregator about cryptocurrency, ICO, mining and blockchain.

Источник

Ripple Unlocks 1 Billion XRP, While Exchanges Move 70 Million XRP

Today, on May 1, Ripple DLT decacorn has unlocked another billion of XRP tokens.

Ripple kicks out another billion XRP

The release was made in two transfers, 500 million coins each. It is executed on the first day of each month, has been for several years already.

At the current XRP price of $1.57, this constitutes a whopping $1.6 billion.

The goal is to support the liquidity of the token on crypto exchanges, send some to Ripple’s partners and customers and use XRP for covering the company’s current operational expenses.

However, the majority of the released coins, around 80%-90%, is usually locked back later the same day.

Unlike fears of some in the community in the past, these programmed XRP withdrawals from escrow do not impact the coin’s price.

Ripple helps crypto exchanges move 70 million XRP

According to the recent tweets posted by Whale Alert blockchain tracker, in the past ten hours, 69.7 million XRP has been transferred by Ripple and several major crypto exchanges.

Platforms that have taken part in these transfers are Bittrex, Huobi, Upbit, Bitstamp and BtcTurk (one of the leading digital exchanges in Turkey).

From these transactions, Ripple pushed another 7.6 million XRP to the Huobi exchange and moved 10 million XRP to Bitstamp.

The latter operates as one of Ripple’s ODL corridors and is located in Luxembourg, EU.

Источник

Ripple Unlocks 1 Billion XRP, While Exchanges Move 70 Million XRP

Another billion XRP is out of Ripple escrow, meanwhile crypto exchanges have shifted 70 million XRP coins together with the fintech giant

Today, on May 1, Ripple DLT decacorn has unlocked another billion of XRP tokens.

Ripple kicks out another billion XRP

The release was made in two transfers, 500 million coins each. It is executed on the first day of each month, has been for several years already.

At the current XRP price of $1.57, this constitutes a whopping $1.6 billion.

The goal is to support the liquidity of the token on crypto exchanges, send some to Ripple’s partners and customers and use XRP for covering the company’s current operational expenses.

However, the majority of the released coins, around 80%-90%, is usually locked back later the same day.

Unlike fears of some in the community in the past, these programmed XRP withdrawals from escrow do not impact the coin’s price.

Image via Twitter

Ripple helps crypto exchanges move 70 million XRP

According to the recent tweets posted by Whale Alert blockchain tracker, in the past ten hours, 69.7 million XRP has been transferred by Ripple and several major crypto exchanges.

Platforms that have taken part in these transfers are Bittrex, Huobi, Upbit, Bitstamp and BtcTurk (one of the leading digital exchanges in Turkey).

From these transactions, Ripple pushed another 7.6 million XRP to the Huobi exchange and moved 10 million XRP to Bitstamp.

The latter operates as one of Ripple’s ODL corridors and is located in Luxembourg, EU.

Image via Twitter

Источник