Ripple Releases 1 Billion XRP Tokens for its Partners and 3rd Parties

In today’s live coin watch, XRP is on the spotlight. It appears the number three digital asset by market cap just got a boost following reports of the release of a lump sum of XRP tokens to partners and 3rd parties by parent company Ripple. Per the report, the sum of 1 billion XRP tokens has been released from Ripple’s escrow account and offered to its partners and 3rd parties. They are listed as unsold tokens.

XRP (XRP) Price Today – XRP / USD

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Today’s XRP Prediction 2019 Values XRP Market Capitalization at $316 Billion

As of the time this report was published writing and based on the market price of ($0.33) XRP. It is reportedly valued just over $316 million. This lump sum will now be available for 3rd parties and partners to purchase. According to the “rule”, should there any unsold tokens at the end of the exercise, the said tokens will be returned to Ripple’s escrow.

Smartereum understands that it isn’t unusual or uncommon to release XRP from Ripple’s escrow account. In fact, this move is done on a regular per monthly basis as part of Ripple’s effort to increase the liquidity of its native token.

All in all, many crypto proponents and others consider the release of digital assets to partners and 3rd parties as controversial. However, at the same time, the move raises questions about Ripple’s “relationship” with their token.

XRP More a Security Than Crypto

Coindoo reports that some die-hard crypto principle holders believe that XRP is actually more like a security than a real crypto as envisioned by the elusive creator of Bitcoin (BTC) Satoshi Nakamoto.

In a bid to quickly address such opinions, the CEO of Ripple Brad Garlinghouse opted to defend XRP as a decentralized protocol on Quora. In his words:

“To be clear Ripple isn’t centralized. If Ripple were to disappear today, XRP would carry on with functions. To me, that is the most critical measure of whether a product is decentralized or not.”

XRP Price Prediction 2019: Number Three Digital Asset Trading at $0.33 at Press Time

According to April 1 XRP price prediction 2019 by Cointelegraph, traders are not interested in either buying or selling the XRP digital token. Hence the reason why the XRP price has remained around its current level in the last few days. If there is a breakout from the $0.33108 overhead resistance price position and the resistance pattern of the descending link, that will likely be the first indication of a return of the bulls. If there’s a breakout of the descending pattern, the XRP/USD pair will likely start a new upward price movement that can carry it into the $0.60 region.

This ascending channel may face minor hurdles in the $0.40 and $0.45 positions as well as above the $0.50 to $0.55. It has to be said that all these hurdles are expected to be crossed. Hence, it is suggested that traders move in on long positions should the price sustain above the $0.33108 resistance level. If the pair turns downward and plummets below the $0.27795 area, it will indicate some weaknesses. The next support position is on the downside at $0.24508. If this support is cracked, the downward movement will resume.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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