XRP In Bearish Mode As Ripple Unlatches 1 Billion Tokens From 2 Wallets

XRP In Bearish Mode As Ripple Unlatches 1 Billion Tokens From 2 Wallets


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

Trending: JUST IN: FBI Erects Barricade Around DC Headquarters

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend