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XRP News: Ripple Held 800M XRP in Escrow May Flood Exchanges

Gaurav Roy by Gaurav Roy
March 6, 2022
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On XRP news, signs indicate that Ripple has locked 800M XRP units in escrow following the expected schedule of withdrawals. 25% of these will cover Ripple's operating expenses, and the rest of the units will be moved to several exchanges like Bitstamp.

The XRP market took a hit when payments giant Ripple withdrew XRP to cover their operational expenses. The excess units they took were then distributed to different exchanges. The exchanges will then sell these excess units to customers.

However, the XRP price will likely continue its downward trend until the units are sold.

XRP News- Ripple Held 800M XRP in Escrow May Flood Exchanges
Ripple withdrew XRP units to pay for its operational costs.

Ripple Labs moved 100 million XRP before locking 800 million units of the digital token in escrow. This was a planned withdrawal, and the payment giant transferred the units to Bitstamp and Bittrex exchanges. The move amounted to around $39.3 million.

As expected, despite how necessary it was to move this massive amount of XRP, the market still
felt the hole it left.

The moved XRP tokens hit exchange wallets and escrow accounts. However,
several members of the community think that this spike in the supply of XRP could increase the
selling pressure of the digital token.

XRP News- Ripple Held 800M XRP in Escrow May Flood Exchanges
XRP Price still uncertain as developments happen on several fronts.

Ripple is the largest public holder of XRP, and this increase in supply can negatively influence
the price of the token.

As a crypto analyst and trader Gert van Lagen said in a tweet, the evaluation for the XRP price trend is that its bullish flag is promising. The next hurdle for the coin is the heavy Fibonacci resistance at $0.92. He then notes that there’s also a bearish possibility for the coin.

Overall, the token’s price movement is still uncertain. However, with the recent happenings in
the SEC v. Ripple case, the same lawsuit that caused XRP price to fall, the chances for Ripple’s recovery are higher.

For now, investors are on the lookout for favourable XRP news before buying the digital token.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: XRP lawsuitXRP predictionXRP priceXRP ripple news
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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