The growth of XRP tokens has become a matter of doubt as its Lawsuit with SEC has seen multiple delays and the price of the token has dropped by over 32% in the last 30 days. In addition to this Cardano (ADA) had recently overtaken the XRP to become the sixth-largest cryptocurrency.
Ripple XRP, due to its ongoing lawsuit with SEC has been trading under uncertain pressure for a longer time. But somehow it has managed to stay on the tally of the top 10 biggest cryptocurrencies in the market. In addition Ripple, XRP has also released another batch of XRP tokens in its programmed schedule release.
Further, the blockchain technology Company released around 1 billion XRP tokens in two different transactions for its escrow wallet, and around $423 million worth of tokens have been unlocked from escrow ar Ripple Escrow wallet. Thus, the XRP token is now trading at an average price of $0.417 and is down by 2% over the last 24 hours.
Ripple has further locked 55 billion XRP tokens making 55% of its total supply in the series of escrows, in order to provide additional predictability to the token supply. The firm further mentions that these escrows are on the ledger itself, whereas the same ledger mechanics are designed to control the release of the XRP.
Escrow is releasing one billion XRP each month in total, over 55 installments, and the firm in addition to this has confirmed that it has also changed its account security model. The Ripple locks back a large portion of the supply in addition, and the XRP has now held the total live supply of 48.34 billion tokens.
Over $73 million worth of XRP tokens were bought in multiple transactions in the last 24 hours, in three different transactions over 175 million were recorded from multiple exchanges, reports the Whale Alert. At the same time around 120 million XRP approximately worth $50.1 million were transferred from some unknown whale wallet to another.
