bullish

2024

Billion

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<p dir="ltr">In its characteristic manner, American blockchain payments firm Ripple Labs Inc. has shuffled more than a billion XRP in the past 24 hours as it makes a defined fund release from escrow.&nbsp;<a href="https://x.com/whale_alert/status/1819165297531670884">According</a> to snapshots of a series of transfers in and out of the firm’s escrow wallet captured by Whale Alert, the total XRP shuffled is more than one billion.</p>
<h2 id="xrp-liquidity-and-market-sentiment">XRP liquidity and market sentiment</h2>
<p dir="ltr">The control of the XRP supply via the escrow model by Ripple Labs has grown to become a customary move to determine the coin’s liquidity. Per Whale Alert, 500 million XRP have been released from escrow in two tranches.&nbsp;</p>
<blockquote>
 <p lang="en" dir="ltr">🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 300,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (178,562,099 USD) unlocked from escrow at unknown wallet<a href="https://t.co/lXf5GQvVbX">https://t.co/lXf5GQvVbX</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1819165297531670884?ref_src=twsrc%5Etfw">August 2, 2024</a>
</blockquote> 
<p dir="ltr">The first involves 300 million XRP valued at $178,562,099, and the second is a 200 million XRP release, with a monetary valuation of $119,178,067. These two distinct transactions were preceded by at least six others, where Ripple moved from 100,000,000 XRP to 600,000,000 XRP in and out of the wallets it controls.</p>
<p dir="ltr">The market appears unmoved by these&nbsp;<a href="https://u.today/400-million-xrp-unlocked-from-escrow-xrp-reacts-unexpectedly">escrow transfers</a> as it is not uncommon for the payment firm. At the time of writing, the price of XRP is down by 6.8% in the past 24 hours and is changing hands for $0.5685.&nbsp;</p>
<p dir="ltr">The trading volume is also down at the moment, proof of the diminishing confidence the market is experiencing.</p>
<h2 id="setting-new-standard">Setting new standard</h2>
<p dir="ltr">Historically, Ripple Labs has released about one billion XRP from escrow monthly. This implies that the firm may still initiate more releases in the coming days. For XRP, there is a need to sustain its&nbsp;<a href="https://u.today/xrp-six-year-triangle-breakout-signals-massive-upside-for-xrp">growth trend</a> as it ended July on a stellar note.</p>
<p>The superficial price metrics might be down for now, but that does not negate the fact that XRP is experiencing one of the&nbsp;<a href="https://u.today/xrp-sees-strongest-bullish-sentiment-in-more-than-a-year">strongest bullish sentiments</a> in more than a year.</p>

Over One Billion XRP Shuffled by Ripple in 24 Hours

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