Ripple (XRP) is in bearish mode and was down 1.93% as seen overnight. Moreover, Ripple has recently freed up over 1 billion XRP tokens coming from two separate escrow wallets. Currently, the crypto trades at $0.38 on the biggest spot exchanges.
Ripple has evidently locked over 55% of XRP’s total supply in escrows way back 2017. Analysts believe that its bearish sentiment or weakness is relevant to Bitcoin’s failure to surpass the $24,000 mark as opposed to the controversial unclasping of new tokens that happened recently.
In effect, Ripple is trying to restore most of the tokens that they’re sending to escrow. Additionally, unlocking of the new tokens happen every first day of the month and has no effect whatsoever on XRP price. In spite of the misunderstanding, most of these tokens won’t necessarily swamp crypto exchanges.
Ripple Sold Over $408 Million Of XRP In Q2
To date, Ripple has sold roughly $408 million of XRP in Q2. The recent success or increase in sales is attributed mainly to On-Demand Liquidity Service picking ..
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