COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Ripple’s Strategic Moves Impact XRP Market
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Ripple (XRP) > Ripple’s Strategic Moves Impact XRP Market
Ripple (XRP)

Ripple’s Strategic Moves Impact XRP Market

In Brief

  • Ripple relocks 800 million XRP coins into escrow.

  • This action coincides with significant whale transfers.

  • Speculations arise about XRP's market and legal status.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Ripple‘s XRP has once again caught the attention of investors as 800 million coins are relocked into an escrow wallet amidst a series of significant large-scale transactions. This move, alongside major whale transfers, has led to speculation about the potential impacts on the altcoin market due to Ripple‘s strategic maneuvers.

Contents
Ripple’s Escrow Wallet Practice for XRPTransfer of 60 Million XRP Fuels Speculation

Ripple’s Escrow Wallet Practice for XRP

Ripple’s decision to relock 800 million XRP into its escrow wallet is part of its routine practice, usually unlocking 1 billion XRP from the escrow wallet on the first day of each month. Although this practice is customary, it has significant implications for Ripple’s operational framework and the altcoin.

On social media platform X, a lawyer representing XRP, Bill Morgan, noted that some of the unlocked XRP was reintegrated into the circulating supply, while the rest was relocked into the escrow wallet, helping to dispel any emerging panic.

Overall, Ripple’s escrow wallet practice serves two purposes: providing market liquidity and ensuring the continuation of seamless cross-border transactions. Despite potential short-term fluctuations in XRP’s price due to increased supply, this practice is part of Ripple’s long-term vision for sustainability in the cryptocurrency market.

Ripple’s recent move of relocking 800 million XRP became even more noteworthy as it occurred during the ongoing SEC lawsuit. The recent relocking of millions of XRP into the escrow wallet followed by high-volume XRP transfers has particularly fueled speculation about Ripple’s objectives and the potential legal status of XRP.

Transfer of 60 Million XRP Fuels Speculation

The recent relocking of 800 million XRP into Ripple’s escrow wallet coincided with notable whale transfers, fueling speculation about the altcoin. The revelation that Ripple transferred 60 million XRP to two unknown wallet addresses added momentum to the wave of speculation.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Judge Rejects Joint Request, Keeping Ripple-SEC Legal Tensions Alive

The Court Shakes XRP Market Dynamics

Ripple Connects XRPL with Over 35 Blockchains Including Ethereum

SEC Maintains Tension with Ripple in Ongoing Legal Battle

U.S. Approves Crypto for Mortgages: Discover How It Impacts Homebuyers

COINTURK NEWS 2 May, 2024 - 3:10 pm 2 May, 2024 - 3:10 pm
Share This Article
Facebook Twitter
Share
Previous Article BNP Paribas Invests in Bitcoin ETF Shares
Next Article How Will Institutional Investors Impact Bitcoin ETFs?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Unveil the Spy Drama Linking Crypto Theft to Israeli Intelligence
Cryptocurrency Security
Ethereum Foundation Stirs Excitement with Large ETH Transfers
Ethereum (ETH)
Judge Rejects Joint Request, Keeping Ripple-SEC Legal Tensions Alive
Ripple (XRP)
Changpeng Zhao Predicts Bitcoin’s Value Outshining US Homes
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?