Odaily Planet Daily News According to Whale Alert monitoring, starting at 2:21 AM today, Ripple has re-locked 1 billion XRP in a custody wallet, valued at approximately 1.546 billion USD. According to previous reports, Ripple stated that it uses a custody account system to provide transparency and certainty to the XRP market. The company locks a majority of its XRP holdings to ensure that it does not flood the market and manipulate prices. However, the company also uses XRP in the custody account to invest in and support projects within the Ripple ecosystem. Releasing 1 billion XRP tokens from the custody account each month does not mean that all of them will enter the market. Ripple may choose to sell some to institutions or retail investors, use some for its own purposes, or return some to a new trust.
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Ripple re-locks 1 billion XRP in custody wallet early this morning
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XRP
2.4334
+29.29%
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