Ripple recently unlocked 1 billion XRP from its escrow account, with more than half of the assets being returned to the escrow account. High-value transactions have been observed in the past two days leaving an unknown address to Bitstamp crypto exchange, which Ripple acquired an undisclosed stake in earlier this year. Ripple has used hundreds of millions of dollars in legal advice to improve XRP’s liquidity. New York District Judge, Analisa Torres, ruled that XRP sales to the secondary market through exchanges do not constitute investment contracts, unlike direct sales to financial institutions. Ripple received 400 million XRP units worth approximately $205 million, 100 million units worth approximately $51.4 million, and 500 million XRP units worth approximately $257 million from the escrow account. Out of the received XRP, Ripple locked back about 800 million XRP to the escrow wallet to be unlocked in later months. With about 200 million fresh XRP at its disposal, Ripple sent about 28.5 million units worth approximately $14.7 million to the Bitstamp crypto exchange.The recent unlocking of 1 billion XRP coincided with a general bullish in the crypto market from the ‘Uptober’ narrative. XRP price had gained about 5 percent in the past five days to trade around $0.523 on Monday. XRP had a fully diluted valuation of approximately $52 billion and a 24-hour trading volume of about $808 million, thus making the digital asset a large-cap altcoin. Investors can buy Ripple (XRP) easily and with low fees via PayPal and credit card on Coinbase, a regulated crypto exchange in the USA, and by CySEC and FCA in Europe.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | SEC, FINRA, Analisa Torres, Ripple, Bitstamp |
| Companies | Binance Coin BNB, New York District Judge, Ethereum, XRP Ledger, FINRA, Coinbase, Analisa Torres, XRP, FCA, Ripple, United States SEC, CySEC, Bitstamp |
| Currencies | US Dollar, Ethereum, XRP, Bitcoin, bitstamp |
| Securities | None |
