Ripple, Inc. returned all tokens from the last escrow release. The sum of one billion XRP moved through the wallets for only a few days – allegedly without distribution or sale.
Ripple returns the latest XRP tranche
Whale observers have noted that the latest escrow tranche arrived earlier this month. The usual 1 billion XRP was released and later returned in large tranches.
The transfers were conducted in three transactions, the largest with a volume of 500 million XRP.
In the previous escrow release, approximately 400,000 XRP remained in external wallets to be distributed or sold. Again there was concern about Ripple’s intentions to sell the coins – especially as XRP prices continue to fall.
XRP fell to $0.21 during the last sell-off and is back at $0.219. At this point, the XRP loss for 2019 is again close to 30%, with only odd hopes of a possible rally.
However, Ripple’s willingness to hold on to the asset could give hope for future performance. Currently, the use of XRP for the decentralized RippleNet protocol is optional.
Also, the transactions in the Ripple network showed a marked revival in October and November, rising to several million a day.
At this point it is uncertain where the transactions came from – but there are records of significant value transfers through Ripple’s protocol. Actual XRP transactions are only part of the mix.
XRP keeps many hopeful
The recent return of the entire escrow balance for the month is also seen by many as bullish, as the free supply is effectively restricted.
XRP also has a number of reliable supporters. Even if the rise is not imminent, some consider XRP undervalued and the current low prices an opportunity to buy.
XRP has mastered short-term rallies, but the general trend remains bearish. In early December 2018, XRP stood at $0.35 and moved close to $0.30 for most months, with the exception of a mid-year rally. XRP is now entering a price region closer to the $0.20 range.
Ripple still holds nearly 50 billion coins and its escrow operations will continue for more than 17 years based on a set schedule.