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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
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.
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.
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.
🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 1,000,000,000 #XRP (258,488,781 USD) unlocked from escrow at Ripple Escrow wallet— Whale Alert (@whale_alert) September 1, 2019
This brought up another wave of criticism towards Ripple and accusations of them working against XRP investors.
We’re about to get dumped on again!— Dennis Carroll (@toolsandbeyond) September 1, 2019
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.
2/ XRP sales are about helping expand XRP's utility - building RippleNet & supporting other biz building w/XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q/Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.— Brad Garlinghouse (@bgarlinghouse) August 27, 2019
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.
Can XRP reach a value of $100 per XRP before the end of 2019?— xrp_news ⚡ (@xrp_news) August 28, 2019
What are your thoughts?#xrp #xrpthestandard #ripple #0doubt
The most optimistic replies were that XRP should at least reach $1 or $3.75.