- Ripple unlocks scheduled half-billion tokens from its escrow account
- Ripple XRP investors record a 26% returns
- Ripple IPO News Continues to affect the industry
Ripple News Update – Ripple XRP price remains neutral as February commences, regardless of the blockchain payment network Ripple unlocking 500 million tokens from its escrow account. Statistics from the XRP blockchain reported by observing resource Whale Alert on Feb. 1 affirmed that a single transaction of 500,000,000 tokens worth $119.5 million was released from Ripple’s escrow account.
XRP (XRP) Price Today – XRP / USD
Ripple Latest Update – The token unlocked is the latest in a sequence of scheduled releases, which Ripple has planned to happen on the first of each month for 55 months. The token release is aimed at providing rewards for the market makers, with Ripple still having the autonomous control of the newly-released tokens.
XRP investors record a 26% returns
Ripple News – Previously in January when the scheduled token was released, XRP/USD pair price did not show any evident price change. Afterward, a bullish trend on Bitcoin (BTC) markets influenced the price action of many major altcoins positively. As compared to its January lows, XRP is up by a relatively moderate 26%.
At a recent interview held in Davos, Garlinghouse shared his view on what he considered will happen if BTC is incorporated for payments. He believes Bitcoin (BTC) works perfectly as a store of value. He went thus: “I’m bullish on BTC as a store of value, but not for payments. You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.”
Commenting on Ripple’s plan for an IPO, Garlinghouse stated: “In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”
Previously in 2018, there were speculations of a few major cryptocurrency firms going public. Then Robinhood and Huobi were rumored to be planning IPOs towards the end of 2018. Sometime in 2019, Chinese mining firm Bitmain and Canaan filed papers with the SEC requesting to hold IPOs.
Ripple News Update – Also Garlinghouse stated that Ripple and its executives could not control the XRP supply, while also claiming that it would take strategic steps to stop other bodies from procuring too much XRP. He explains: “We don’t want some other party buying a whole lot of XRP and dumping it on the market.”
At the Series C funding round, Ripple was priced at $10 billion. According to a recent report by CrunchBase, Ripple has raised an overall of $293.6 million all through its funding events. The news about Ripple going public is met with mixed feelings by the XRP community.