Ripple made massive XRP transfers during the day as the cryptocurrency reaches 13 years old today. Ripple placed 670 million XRP tokens in escrow, a fraction of what it usually does by releasing 1 billion XRP at the beginning of every month. The move shocked the XRP community.
Details of the XRP Transfers
As per the latest data, Ripple carried out a series of transactions today. It first sent 50 million XRP and then completed a larger transaction, locking 670 million XRP under escrow. This locking strategy aims to manage supply and ease inflationary pressures on the XRP market.
Community Response
The XRP community, known for its passionate supporters, reacted with excitement and curiosity to the XRP transfers. Some of them have logically deducted that the shift is in line with Ripple’s movement of focus from liquidity shortfalls in the short term to long-term stability. However, speculation about potential company announcements followed.
Historical Context
Ripple already had orderly management of XRP supply before. The company normally unlocks 1 billion XRP each month, and some of it is paid for expenses and re-locked as overage. The action of this month was light years away from such policy, and it created even more investor and analyst attention.
Future Outlook
While Ripple is basking in this achievement, the world is none the wiser as yet on what it will do and escrows. The world waits with bated breath to see Ripple’s strategy and how these events are going to impact XRP’s performance in the market in the weeks ahead.
Ripple’s massive XRP transfers and 670 million escrow-locked coins show massive activity on the 13th anniversary of the cryptocurrency. In general, the Ripple family is keeping a close eye on Ripple as it goes ahead and makes some more progress, in anticipation of getting some indication of what it’s doing next.
