XRP news is becoming more exciting as the days go by. From XRP news about the positive XRP price predictions 2019, to XRP news about developmental progress by Ripple and XRP, large scale adoption of XRP is certainly on the way. Over the last three months, XRP news and XRP predictions 2019 have been mostly positive. This doesn’t mean that there haven’t been some negative XRP news or that the XRP SEC saga is finally over. The XRP community is still one of the largest and most united in the space. The latest XRP news is that over one billion XRP tokens were released into circulation during the last three months.
XRP News Today – XRP Prediction 2019 – XRP Sold Off By Ripple Labs
Since December 2018, Ripple Labs has been selling off XRP to investors. Yesterday, the number of XRP sold was 20 million which is worth about $7 million. While the company hasn’t said anything about what they intend to do with the money they got from the sales, they are certainly cooking something up that is going to be beneficial for XRP in the long run. Keep in mind that the company still has about 50 billion tokens in their control so there is no need to be alarmed as this isn’t an exist scam.
Most of the XRP token sales have been happening on OTC desks and especially when the price of the token is low. This confirms that it isn’t being sold to retail buyers but to institutions. These XRP token sales between December and now have increased the total XRP in circulation by up to one billion. Leonidas Hadjiloizou had this to say:
“The XRP circulating supply has increased from 40,794,121,066 on December 16th to 41,706,564,590 on March 17th. That is an increase of almost 1 billion XRP in 3 months and it is like last quarter’s increase.”
Last year, reports revealed that Ripple successfully sold $536 million in XRP tokens, $130 million out of that was sold during the last quarter. The one billion in XRP that has been sold by Ripple this year alone amounts to about $250 million dollars. While some of the money must has be used to support their office in San Francisco, it’s unlikely that Ripple spent the entire $250 million on office management within three months.
XRP Prediction 2019 – XRP Price Prediction 2019 – What Does The Sell-off Mean For XRP?
A large chuck of the money generated by Ripple Labs is diverted into marketing, advertising and sales. XRP has been on the realm light for months now because of the diligent effort Ripple and the XRP community have been making. The company pays its staff more money than many other blockchain startups in the world.
XRP (XRP) Price Today – XRP / USD
During the 2017/2018 cryptocurrency bull run, the price of XRP moved as high as $3 making people on the XRP rich list happy. However prices started falling significantly shortly after. While many blockchain companies complained about lack of funds, Ripple never had a problem with funding. In fact, the growth rate of the company was increasing along with the adoption of the token. So, the money they are generating from token sales is certainly being used right. Whatever they are cooking up, it’s most likely for the benefit of XRP and other technologies by Ripple.
What do you think about the XRP news today? Will the additional 1 billion XRP in circulation affect the XRP price prediction 2019? Share your thoughts in the comment section.