Ripple in a major step has moved one billion XRP out of escrow. This step has been taken to sell over a portion of its assets to investors, cryptocurrency exchanges and institutions in over-the-counter deals.
This has not been the first instance of Ripple moving such a large amount in escrow. The company performs this procedure at the start of every month. However, it ends up placing a minimum of 700 million XRP back in escrow by the end of month.
As a matter of fact, Ripple holds about 60% of the total supply of XRP, with most of it locked in escrow.
Interestingly, Ripple has also developed a habit of including mysterious memos with massive XRP movements. The latest memo says, “The revolution will be televised…”, an apparent reference to Gil Scott-Heron’s The Revolution Will Not Be Televised."
The last month’s mystery memo read “Crawl… Walk… Run… ;)”
Ripple has managed to take 3 of top 5 spots with a cumulated whale move of $375 million. Ethereum managed to secure the second spot with a second place with a $99 M transaction which was sent to Binance.
Several Ripple customers already in early stages of using xRapid Ripple’s XRP liquidity solution. The emerging markets and payment systems may require multiple currency traders and pre-funded local currency accounts.
Besides, payment providers and banks can use XRP to fuel these payments on demand. In addition, to paying half transaction fees and without any hassle of intermediaries. This makes xRapid a welcome addition by traders and investors alike.
While a possible explanation of the cryptic messages can be that it is time for the larger scale adoption of digital assets.
On 26 February , CoinMarketFeed reported that Coinbase Pro, the advanced offering of cryptocurrency trading platform and wallet service Coinbase is all set to add support for Ripple’s XRP token.
Full trading for the digital asset will be available to customers in U.S, Canada, United Kingdom, Singapore, Australia. The leading exchange may expand its services to other countries later.
Firstly, deposits of XRP will be accepted for a minimum span of 12 hours before full trading is enabled. Per the announcement, primarily the exchange will first establish substantial liquidity on the platform and then open trading pairs in U.S dollars, Euro and Bitcoin (BTC) in phases.