Today, on the first day of spring, from the Ripple Escrow Wallet 500 million Ripple digital currencies were unlocked that were estimated to be around 115 million USD. However, we still do not know how this will translate to the XRP price changes. In the last quarter of last year, the number of sold XRP coins was the least in the last couple of years.

In the official report, Ripple decreased the sales of the digital asset and made the decision to focus on sales with a small number of partners, who are increasing the use and liquidity of the digital currency in regions such as Asia, Europe as well as Africa. The XRP coins that were unlocked from the Escrow Wallet can be sold by Ripple in a crypto asset exchange, distribute the coins to its partners or keep it for some time. According to market data, the correlation between the price movements of XRP and the traffic of the coins from the Escrow Wallet.

The news of Ripple unlocking 500 million XRP assets was announced by a crypto news outlet, Whale Alert, on Twitter. Another 500 million coins were unlocked at the beginning of last month. After that, in a span of a week, the price of the digital currency increased by 18 percent. This shows that the coins released from the wallet were not sold in large amounts. However, it is also possible that the price rise of XRP was a correlation with the Bitcoin price going from 8,000-10,500 USD. Yet, the movement of XRP funds from the wallet does not have a lot of direct influence on the currency’s price shifts.

 

XRP is taking over the financial system both in the crypto and traditional markets. To learn more information on Ripple & XRP price shifts, check out Ripple Price updates and Ripple (XRP) Price Predictions.