Ripple released a billion XRP of its escrow wallet today. This represents the allocation of tokens available for the month, in accordance with calendar pre-established by the company.
Ripple unlocks December XRP
In December 2017, Ripple officially announced that it would put 55 billion XRP in an escrow wallet and release 1 billion XRP each month to speed up the process.ecosystem of his token.
According to current estimates, this amount is approximately $ 225 million. The XRP is currently in a difficult price position, with a support level of around $ 0.20. If the support area weakens, it could cause problems at the third largest digital currency.
? ? ? ? ? ? ? ? ? ? 1,000,000,000 #XRP (225,092,032 USD) unlocked from escrow at Ripple Escrow wallet
Tx: https://t.co/mnDgiG81ln
– Whale Alert (@whale_alert) December 1, 2019
This month’s release of funds means that another $ 220 million in XRP is available and that Ripple can use it as he sees fit. Given the downward trend in prices in the cryptocurrency markets and a rather unpleasant year for altcoins, each release of funds creates a new wave of fears for XRP holders.
The release of escrow funds has often been associated with an imminent drop in prices, since XRP can be distributed in the market. This month’s release of funds brings the circulating supply to nearly $ 44 billion.
While some altcoins have experienced some sort of surge of relief, the XRP has been inactive for the past month, with a downward trend. Even the Swell annual conference de Ripple has not been a strong enough catalyst for the price of XRP to show positive signs.
However, there were still positive developments miners recently for Ripple. Ripple has finalized a $ 50 million investment in the business MoneyGram, which is expected to advance the adoption of XRP for international transfers.
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At the same time, Ripple and his XRP also caused a scandal when Elliptic discovered nearly $ 400 million in illicit XRP transactions. As reported by BeInCrypto, Elliptic found hundreds of XRP accounts linked to illegal activity, and 0.2% of all XRP transactions are linked to criminal activity and sanctioned entities.
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