News View Non-AMP

Ripple Poised to Release Over 96 Million XRP from Liquid Reserves by the End of 2023

Published by
Elena R

Recently, the cryptocurrency realm witnessed a notable movement within Ripple’s XRP reserves as the company executed a substantial transaction involving its escrowed XRP tokens. Ripple’s routine management of its XRP holdings from the escrow system has stirred interest and speculation within the crypto community about the potential implications for the broader XRP market.

Managing Escrowed XRP: Ripple’s Transaction Insights

Ripple sent 240 million XRP from its principal account in December 2023. This large transaction is part of Ripple’s systematic distribution and sale of escrow XRP coins. To stabilize the XRP market, Ripple often reallocates tokens from its main spending wallet, “Ripple 1.”

This recent movement leaves approximately 96.34 million XRP still available in Ripple’s principal spending wallet. Valued at the current market price of $0.62 per XRP, this remaining cache amounts to an estimated $59.73 million. Notably, despite the substantial quantity potentially being in play, market analysts anticipate that a Ripple sell-off of this scale may not dramatically disrupt the existing price dynamics of XRP.

However, amidst this liquidation, Ripple maintains a significant reserve of 40.7 billion XRP tokens in escrow. Despite the periodic release of a fraction for market operations, this sizeable holding illustrates Ripple’s substantial asset reserve. Ripple’s strategy involves gradually unlocking these tokens until 2027, a decision influenced by the continuous re-locking of hundreds of millions of XRP after each release. This extended timeline indicates Ripple’s deliberate approach to managing its XRP reserves strategically.

Binance’s $86 Million XRP Scoop: Investor Shift or Market Exodus?

In other news, a substantial XRP withdrawal from Binance, moving $86 million to a new wallet, has attracted attention. While both amounts currently sit in their respective wallets, their future movement remains uncertain. There’s optimism among XRP holders that the funds remain untouched, avoiding potential liquidation.

The withdrawal from Binance, amidst regulatory pressures, might indicate a large investor shifting to self-custody or transferring to another exchange. This move arrives amid XRP’s price stagnation at around $0.623, following a peak at $0.69 in December. Concerns linger about Ripple potentially liquidating its XRP balance, impacting the cryptocurrency’s price, and adding a layer of uncertainty for holders.

This recent event surrounding Ripple’s XRP reserves has captured the attention of market observers. Speculation looms over potential Ripple sell-offs or retentions of its liquid XRP reserves, sparking discussions within the crypto sphere about the probable market impacts and Ripple’s broader strategic moves in this intricate token management process.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Trump Tariffs Live: Bitcoin Price Rallies To $87000 On ‘Liberation Day’

Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…

April 2, 2025

Grayscale Announces Launch of Two New Bitcoin ETFs: Here’s What They Are

Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…

April 2, 2025

Remember This Name! Remittix Presale Becomes the Top Predicted of 2025 as Project Raises Almost $15M in Record Time

In a year marked by conservatism and a sentiment shift in crypto, one name is…

April 2, 2025

Has Elon Musk Forgotten About Dogecoin (DOGE)?

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…

April 2, 2025

Shiba Inu Drops 9%, but RUVI AI’s (RUVI) Token Might Be the Meme Coin Killer as Investors Rush to Claim their Bonus

The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…

April 2, 2025

XRP Stalls at $2—Is Ozak AI ($OZ) the Next Big Crypto Breakout?

XRP has struggled to break past the $2.5 mark despite strong market momentum. Meanwhile, Ozak…

April 2, 2025