Ripple Labs Locks 700 Million XRP in Escrow During Monthly Rebalancing
Ripple Labs Locks 700 Million XRP in Escrow
- Ripple Labs has locked 700 million XRP in escrow as part of its monthly rebalancing, completed through three transactions of 500 million, 30 million, and 170 million XRP.
- The total locked XRP is valued at approximately $1.5 billion.
- This escrow process has become a standard practice for Ripple, aimed at managing the circulating supply of XRP and minimizing market fluctuations.
- Ripple releases 1 billion XRP monthly for institutional liquidity, operational expenses, and market support.
- XRP was trading at $2.21 amidst selling pressure, despite broader market recovery.
- Investors are monitoring Ripple's strategies closely, particularly regarding potential price impacts and speculation around a spot XRP ETF approval in the US.
Ripple's Acquisition Focus
- Ripple is shifting focus from pursuing an IPO to acquiring complementary blockchain infrastructure companies.
- CEO Brad Garlinghouse indicated this strategy includes a $5 billion buy-out offer to Circle, which was declined.
- Future counter offers or acquisitions remain uncertain.