Ripple’s XRP Adds 2 Percent, Despite 1 Bln XRP Unlocked from Escrow As Market Sees Correctional Growth

Libra Coin News
Tue, 09/03/2019 - 08:27
Yuri Molchan
Despite Ripple releasing 1 bln XRP from escrow and the community’s rage about this, XRP has risen 2 percent, following Bitcoin and other top ten assets
Cover image via U.Today

On Tuesday, the crypto market is enjoying the sea of green, except stablecoins, such as Tether, USD Coin, PAX and several other assets.

Bitcoin has again climbed back above the $10,000 level and at press time is trading at $10,374.

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Ripple’s XRP has also demonstrated a modest growth by nearly two percent, despite the fact that on September 1 the crypto giant released another gargantuan portion of 1 bln XRP from escrow.

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XRP rising despite the XRP release

On September 1, Whale Alert, the website that tracks financial transactions on the blockchain, published a post on its Twitter page that 1 bln XRP was unlocked from Ripple’s escrow.

This brought up another wave of criticism towards Ripple and accusations of them working against XRP investors.

Ripple sells large portions of XRP on a quarterly basis. The money is used for the company’s development, for new partnerships, collaborations and for increasing XRP utility. The latter was the reason cited directly by Brad Garlinghouse, the Ripple CEO, in a recent series of tweets in which he addressed the FUD that has been recently spread around Ripple and XRP.

At present, XRP is trading at $.026.

Will XRP reach $100 by the end of 2019?

This was the question recently posted by the XRP_News Twitter account that publishes positive news on Ripple’s XRP asset.

The most optimistic replies were that XRP should at least reach $1 or $3.75.

Image by Twitter

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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