As per predetermined rules, yesterday Ripple unlocked one billion XRP. This time Ripple has promised not to use the cryptocurrency for sale. But, as per the track record of the company it is tough to say what Ripple plans to do with this one billion of XRP.
Ripple is known to sell XRP for their benefits, which causes its price to fall. Last month Ripple announced a partnership with MoneyGram and other companies.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 #XRP (258,488,781 USD) unlocked from escrow at Ripple Escrow wallet
— Whale Alert (@whale_alert) September 1, 2019
Many from the crypto community are skeptic of Ripple’s intentions. Ripple has 55 billion XRP in its treasury and has the right to unlock one billion each month. Last week Ripple Ceo Brad Garlinghouse took to twitter to clear some rumors and company’s intentions. He said that XRP sales are there to increase the cryptocurrency’s utility and support other business. He also said that Ripple had decreased the sale of XRP by volume.
Ripple is also facing a class-action lawsuit filed by some investors last year. The lawsuit alleges Ripple of selling unregistered securities. Last month Brad Garlinghouse indicated at many potential investments in the coming time. It would be interesting to see how Ripple manages XRP and how the price of the cryptocurrency fluctuates.