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Felicia Tan
in
Crypto
June 2 11:57

Ripple unlocked 1 billion XRP from $200 billion escrow accounts

The funds were unlocked in two equal portions of 500 million XRP. The total market value of the released coins exceeded US$203 million.
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Sales of XRP by Ripple are regular. In Q4 last year, Ripple liquidated its position in XRP by US$13.08 million compared to US$66.24 million in Q3 and record US$251.5 million in Q2.
Ripple's co-founder Jed McCaleb also sold over 1 billion XRP between 2014 and 2019, and 54 million XRP in April this year. McCaleb continues to receive tranches from the company under the agreement.
In early March, Ripple CEO Brad Garlinghouse admitted that XRP sales form a significant share of the company's profits. In the second half of last year the company sharply reduced token sales.
In late May, the research company Messari reported that XRP inflation reached 20%. Regular token sales by Ripple were named one of the possible reasons.