Ripple Removes XRP Worth $308 Million From Escrow, What Does This Mean For The XRP Price Prediction?

ripple xrp wallet

XRP prediction 2019 has been a mixture of bearish and bullish pressure for the past few months. Last month, one of our XRP news was about how Ripple has been selling XRP and generating revenue. However, the company hasn’t given details about the exact plans it has for the funds generated from the XRP sales. There were also some unproven speculation that the company was manipulating the price of XRP for the benefit of institutional investors. Today, Ripple unlocked one billion XRP units from its escrow holdings. This amounts to about $308 million at current rates. What is the Silicon Valley tech company up to and how will this affect the XRP price prediction 2019?

XRP Price Prediction 2019 – XRP Prediction 2019 – Ripple News – XRP News – Ripple Moves XRP

A lot happened in the cryptocurrency space this morning. Ripple moved 1 Billion in XRP from escrow around the same time that a Bitcoin whale moved 40,000 BTC, equivalent to $214, from one wallet to the other. This Bitcoin was moved in three transactions and the total money spent on fees was about $3.94. Why the user moved the BTC to an unknown wallet is not clear. It may have been used to pay for services or may have been sent to another wallet which is under the control of the user.

By releasing one billion in XRP from its escrow holdings, Ripple is most likely making plans to put the tokens into circulation by selling them to institutional investors as it did with the XRP holdings it removed last time. It would also sell some of the tokens to cryptocurrency exchanges. What is Ripple doing with all these funds? It’s true that the company uses funds like these for operations. However, Ripple also spends a lot of money on marketing and innovation. There have been rumors that the company is working on something big that would even lead to an increase in the adoption of xRapid and XRP.

The good thing is that even if the company hasn’t told everyone what it is planning yet. It is always tells the public when it releases funds from escrow and has promised never to sell all its XRP holdings at once to keep investors at ease. As you probably already know, Ripple controls over 60% of the total XRP supply. However, in a bid to ensure decentralization, these funds are kept in escrow contracts and renewed from time to time. There are growing concerns about the lack of clarity when it comes to how Ripple uses its XRP tokens. Also, many people believe that XRP is a security because of the percentage Ripple is controlling.

XRP Price Prediction 2019 – XRP Prediction 2019 – Current Price Of XRP

At the time of writing, the price of XRP was $0.305696. This means that it is down by 0.80% against the USD and down by 1.88% against the price of BTC. The trading volume over a 24 hour period is $976,948,990 and the market capitalization is $12,840,735,953.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.273
0.681%

The price of XRP was in green this morning just before the whale alert according to our XRP news. While it’s not clear if there is a direct relationship between the XRP Ripple released and the price drop, some investors are worried about the transaction. They believe that this isn’t the best time to increase the XRP in circulation as it may have a negative impact on the XRP price prediction 2019.

What do you think about the XRP news today? Will the continuous release and sale of XRP tokens by Ripple affect the XRP prediction 2019? Share your thoughts in the comment section.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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