- 500 million XRP unlocked from Ripple’s Escrow Wallet
- Impending Selling Pressure Or Not?
- No Price Activity From Previous Token Unlock
- Chances of Positive Price Trend?
XRP News Now – As per Ripple’s monthly coin release, the company released 500 million XRP on March 1, from it s Escrow wallet. The released coin is valued at around $115 million. XRP Price Prediction 2020 – It is yet unknown if the recent coin release will lead to selling pressure for the cryptocurrency.
Impending Selling Pressure Or Not?
XRP Price Prediction 2020 – Whether this will lead to a selling pressure or not depends solely on how Ripple handles the XRP escrow. In the Q4 of 2019, Ripple sold the least amount of XRP in recent years, easing some selling pressure off of the XRP market. Notably, the XRP that Ripple procured from the Escrow wallet can be sold in the exchange market, shared with its partners or retained for a long time. XRP News Now – so far no market data indicates that there is a link between the transfer of funds from the Escrow wallet and the price movement of the XRP token.
No Price Activity From Previous Token Unlock
XRP Prediction 2020 – As reported by Whale Alert during last month’s token release, Ripple unlocked 500 million XRP on February 1, yet, from February 1 to February 8, XRP price saw a surge of about 18%. This shows that Ripple had not sold large amounts of XRP after the Escrow funds were unlocked. XRP News Now – there are possibilities that XRP price surged due to BTC’s price rally from $8.000s to $10,500, though the Escrow release showed less effect on XRP price.
XRP News Now – Commenting on if the fund release has any effect on XRP Price, Ripple CEO Brad Garlinghouse stated that it is not in the interest of the company to see its native token underperform. Thus, he explained that Ripple would not want to dump a huge amount of XRP into the market.
XRP Prediction 2020 – so far, the only difference between the current price movement of XRP and that of February’s is that the whole crypto market sentiment is on the decline. During the market dip, even a minor surge in selling pressure could affect the market.
Chances of Positive Price Trend?
XRP News Now – regardless of the series of prominent long-term partnership Ripple has with financial giants like MoneyGram and SBI Holdings, XRP remains the most underperformed cryptocurrency amongst the top ten cryptocurrencies based on performance from record highs. Since attaining its all-time high on January 7, 2018, the XRP price has declined by 93% against the USD.