Ripple Withdraws One Billion XRP From Its Stash as Community Awaits Ripple Case Settlement.

Ripple fintech company has released immense amount of XRP from its stash, injecting hundreds of millions of XRP onto crypto market.

San Francisco-based fintech behemoth Ripple Labs has conducted a programmed released of one billion XRP from escrow addresses, according to recent tweets published by popular crypto tracker Whale Alert.

The above-mentioned crypto tracking platform spotted three staggering transfers, carrying 500,000,000 XRP, 300,000,000 XRP and 200,000,000 XRP – a billion Ripple-affiliated tokens in total worth $601.4 million in fiat. These withdrawals have been taking place since early 2018 as Ripple set itself the task of supporting the liquidity of XRP on exchanges and on the cryptocurrency market in general. They take place on the first day of a new month.

As a rule, on the day that follows the withdrawals, about 800 million XRP are moved back to escrow by Ripple Labs until the next release that happens every 30 days. These regular XRP releases do not seem to impact the XRP price. The circulating supply of XRP currently constitutes 53,888,571,585 XRP, according to CoinMarketCap. At the time of this writing, the Ripple-affiliated token is changing hands at $0.61381 on the Bitstamp exchange, showing a 2.79% rise since Tuesday and rising 2.26% within the last 24 hours.

The aforementioned source also detected a withdrawal of 27,000,000 XRP from the Binance exchange. This is the equivalent of $16,413,770 USD.

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