{"id":558746,"date":"2023-11-02T08:35:32","date_gmt":"2023-11-02T08:35:32","guid":{"rendered":"https:\/\/wncen.com\/?p=558746"},"modified":"2024-06-11T10:34:50","modified_gmt":"2024-06-11T10:34:50","slug":"ripple-800-m-xrp-escrow-catalyst-price-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-800-m-xrp-escrow-catalyst-price-rally\/","title":{"rendered":"Ripple Transfers 800 Million XRP Back To Escrow: Catalyst For Price Rally?"},"content":{"rendered":"

Recent financial maneuvers by Ripple Labs have caught the eye of crypto sleuths again. Recent data from crypto data analysis platform Whale Alert has shown a significant movement of 800 million XRP tokens back into Ripple’s established escrow system. This move comes in the aftermath of Ripple’s customary monthly unlocking<\/a> of one billion XRP, a practice that started in 2017 as part of the company’s strategy to maintain XRP price stability.<\/p>\n

Ripple Returns 800 Million XRP To Escrow<\/h2>\n

The essence of Ripple’s escrow mechanism is to facilitate a consistent and predictable distribution of XRP to the market. This counteracts any potential price volatility that might arise from a sudden influx of tokens. In its commitment to this cause, Ripple, back in 2017, pledged to gradually release 55 billion XRP in 55 monthly tranches of one billion XRP each.<\/p>\n

Post-release each month, Ripple typically returns a majority of the tokens, mostly 800 million XRP, back into the escrow, retaining a minor portion, around 200 million XRP, for market circulation. Recent data from Whale Alert confirms that Ripple was no exception this month and has locked 800 million XRP tokens back into the established escrow system.<\/p>\n

Related Reading: XRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens<\/a><\/div>\n

Notably, the return of the 800 million XRP tokens occurred<\/a> in two equal transactions, each involving 400 million XRP. Delving into the data from XRP Scan reveals that the first set, amounting to 400 million XRP, was directed<\/a> back into escrow from an address known as ‘Ripple 10.’ Prior to this, ‘Ripple 10’ had received the said tokens from two different addresses: Ripple 22 and Ripple 23.<\/p>\n

The subsequent batch of 400 million XRP was transacted from ‘Ripple 23’ to another address<\/a> dubbed ‘Ripple 11,’ before it was also directed to the company’s escrow account. The market value of the re-locked 800 million XRP stood at an approximate $480 million during the time of these transactions.<\/p>\n

Of the original 1 billion XRP that were made available, the remaining 200 million XRP, with a current valuation of about $121 million, was moved from Ripple 22 to Ripple 1. This balance is anticipated to facilitate Ripple’s operational expenses and other business-related activities.<\/p>\n

Related Reading: SEC Demands $700 Million Settlement From Ripple, Pro-XRP Lawyer Reveals Next Steps<\/a><\/div>\n

Ripple’s escrow holdings now total roughly 40.9 billion XRP. For context, their Q3 report disclosed that they had about 41.3 billion XRP in escrow at the end of September.<\/p>\n

XRP Price Poised For More Upside<\/h2>\n

After XRP broke the 200-day Exponential Moving Average (EMA) line (blue) on October 21, the price has been on a tear. Within 11 days, the XRP price increased by almost 20%. That the XRP price took a breather from its rally yesterday is probably not due to Ripple’s monthly transfer from escrow, as the XRP tokens do not hit the market immediately and, moreover, investors know how to gauge the issue.<\/p>\n

A better explanation is that XRP encountered a strong resistance with the 0.386 Fibonacci retracement level at $0.625, where the price was rejected in a first attempt. Notably, the bulls could make another attempt if the price stays above the $0.60 level.<\/p>\n

If the breakout succeeds, the 0.5 Fibonacci retracement level at $0.683 could be the next short-term price target. However, if the XRP price is rejected again at $0.625, a retest of the 0.236 Fibonacci retracement level at $0.553 could be the next logical move.<\/p>\n

\"XRP
XRP price hovers below the 0.382 Fib, 1-day chart | Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Recent financial maneuvers by Ripple Labs have caught the eye of crypto sleuths again. Recent data from crypto data analysis platform Whale Alert has shown a significant movement of 800 million XRP tokens back into Ripple’s established escrow system. This move comes in the aftermath of Ripple’s customary monthly unlocking of one billion XRP, a practice that started in 2017 as part of the company’s strategy to maintain XRP price stability. Ripple Returns 800 Million XRP To Escrow The essence of Ripple’s escrow mechanism is to facilitate a consistent and predictable distribution of XRP to the market. This counteracts any potential price volatility that might arise from a sudden influx of tokens. In its commitment to this cause, Ripple, back in 2017, pledged to gradually release 55 billion XRP in 55 monthly tranches of one billion XRP each. Post-release each month, Ripple typically returns a majority of the tokens, mostly 800 million XRP, back into the escrow, retaining a minor portion, around 200 million XRP, for market circulation. Recent data from Whale Alert confirms that Ripple was no exception this month and has locked 800 million XRP tokens back into the established escrow system. Related Reading: XRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens Notably, the return of the 800 million XRP tokens occurred in two equal transactions, each involving 400 million XRP. Delving into the data from XRP Scan reveals that the first set, amounting to 400 million XRP, was directed back into escrow from an address known as ‘Ripple 10.’ Prior to this, ‘Ripple 10’ had received the said tokens from two different addresses: Ripple 22 and Ripple 23. The subsequent batch of 400 million XRP was transacted from ‘Ripple 23’ to another address dubbed ‘Ripple 11,’ before it was also directed to the company’s escrow account. The market value of the re-locked 800 million XRP stood at an approximate $480 million during the time of these transactions. Of the original 1 billion XRP that were made available, the remaining 200 million XRP, with a current valuation of about $121 million, was moved from Ripple 22 to Ripple 1. This balance is anticipated to facilitate Ripple’s operational expenses and other business-related activities. Related Reading: SEC Demands $700 Million Settlement From Ripple, Pro-XRP Lawyer Reveals Next Steps Ripple’s escrow holdings now total roughly 40.9 billion XRP. For context, their Q3 report disclosed that they had about 41.3 billion XRP in escrow at the end of September. XRP Price Poised For More Upside After XRP broke the 200-day Exponential Moving Average (EMA) line (blue) on October 21, the price has been on a tear. Within 11 days, the XRP price increased by almost 20%. That the XRP price took a breather from its rally yesterday is probably not due to Ripple’s monthly transfer from escrow, as the XRP tokens do not hit the market immediately and, moreover, investors know how to gauge the issue. A better explanation is that XRP encountered a strong resistance with the 0.386 Fibonacci retracement level at $0.625, where the price was rejected in a first attempt. Notably, the bulls could make another attempt if the price stays above the $0.60 level. If the breakout succeeds, the 0.5 Fibonacci retracement level at $0.683 could be the next short-term price target. However, if the XRP price is rejected again at $0.625, a retest of the 0.236 Fibonacci retracement level at $0.553 could be the next logical move. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":558748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,89612,3685,4531,13172,16289],"class_list":["post-558746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-escrow","tag-ripple-labs","tag-xrp","tag-xrp-price","tag-xrp-price-prediction"],"acf":[],"yoast_head":"\nRipple Transfers 800M XRP Back To Escrow: Catalyst For Rally?<\/title>\n<meta name=\"description\" content=\"Data from Whale Alert shows a significant movement of 800 million XRP tokens back into the escrow account by Ripple.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple Transfers 800 Million XRP Back To Escrow: Catalyst For Price Rally?","url":"http:\/\/wncen.com\/news\/ripple\/ripple-800-m-xrp-escrow-catalyst-price-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/ripple-800-m-xrp-escrow-catalyst-price-rally\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1987854818.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1987854818.jpg?fit=3508%2C2000"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple escrow","ripple labs","xrp","xrp price","xrp price prediction"],"dateCreated":"2023-11-02T08:35:32Z","datePublished":"2023-11-02T08:35:32Z","dateModified":"2024-06-11T10:34:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple Transfers 800 Million XRP Back To Escrow: Catalyst For Price Rally?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/ripple-800-m-xrp-escrow-catalyst-price-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/ripple-800-m-xrp-escrow-catalyst-price-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1987854818.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1987854818.jpg?fit=3508%2C2000\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple escrow\",\"ripple labs\",\"xrp\",\"xrp price\",\"xrp price prediction\"],\"dateCreated\":\"2023-11-02T08:35:32Z\",\"datePublished\":\"2023-11-02T08:35:32Z\",\"dateModified\":\"2024-06-11T10:34:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1987854818.jpg?fit=3508%2C2000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=558746"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/558748"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=558746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=558746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=558746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}