Ripple has unlocked 1 Billion XRP from its escrow account before the Swell Conference.
Whale alert has tweeted that Ripple has unlocked 1,000,000,000 XRP from its escrow at Ripple escrow wallet.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 #XRP (295,969,683 USD) unlocked from escrow at Ripple Escrow wallet
— Whale Alert (@whale_alert) November 1, 2019
23rd Tranche of XRP from the Escrow account
According to the report of escrow tracking service, XRP Arcade, this is the 23rd tranche of XRP which is unlocked from the Ripple’s escrow account. It means that 22 escrows have already been unlocked.
The total amount of XRP has been decreased by 5 million XRP till now. Ripple has decreased this amount for the unlocking of this 23rd tranche of XRP. And per month average stands at 227.5 million.
As the XRP Arcade reports:
So far 22 escrows have ended, 1 billion each. The total amount of XRP in escrow has been reduced by 5 billion XRP so far. That is an average of 227.3 million per month.
The question is what will Ripple do with these 1 billion XRP. Ripple may be looking for new partnerships and can use some of these coins to give them as gifts to its new partners.
Apart from this, Ripple may also use these coins for incentive programs. And the company can also sell these tokens to decrease their expenses.
It is expected that this amount of 1 million XRP included in the 23rd tranche would be transferred to the OTC wallet of Ripple. From where the company will use these coins for their purpose.
No Positive effect of Swell Conference on XRP till now
Swell Conference is considered an important factor that can promote XRP. But we have not seen positive effects of the conference on XRP till now and there is almost one week left at the start of the Swell Conference.
The price value of the coin is still sticking around the point of $0.29 and its trading volume is also standing around $1.6 billion in 24 hours. This means that the Swell conference is not showing its influence on XRP value.
Ostrich1324 says that the Swell Conference will be a non-event just like last year.
Worst performing top 10 coin in 2019. Why will this change? Incessant dumping by all parties FOMO dead. Futures coming (bad thing) killed BTC. Swell will be a non event just like last year (Pump n Dump).
— Ostrich1324 (@ostrich1324) November 1, 2019
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