Why Does Ripple Return Unlocked Tokens To Escrow? Pro-XRP Lawyer Provides Answers

Name	Symbol	Market	Market Cap ($)	Algorithm
Internet Computer	ICPUSD	Crypto	3,348,736,760	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Internet Computer

ICPUSD

Crypto

3,348,736,760

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	7.29	7.27	7.28

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

7.29

7.27

7.28

High Price	Low Price	Open Price	Prev. Close	52 Week Range
7.41	6.92	7.27	7.29	2.81 - 20.96

High Price

Low Price

Open Price

Prev. Close

52 Week Range

7.41

6.92

7.27

7.29

2.81 - 20.96

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:15:18	0.137200	7.29	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:15:18

0.137200

7.29

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,259,697.81	454,032.16	ICP	ICPEUR	ICPGBP	ICPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,259,697.81

454,032.16

Why Does Ripple Return Unlocked Tokens To Escrow? Pro-XRP Lawyer Provides Answers

10/10/2023 12:45pm

NEWSBTC

Ripple usually returns a substantial part of its unlocked XRP tokens following every monthly release of 1 billion tokens from its escrow system. Justifying this move, pro-XRP legal expert Bill Morgan explained why Ripple does this rather than leaving these tokens in circulation. Why Ripple Returns Some XRP Tokens To Escrow In a tweet shared on his X (formerly Twitter) platform, Morgan suggested that Ripple’s decision not to sell most of the XRP released each month is one of the steps the firm takes to “support XRP’s price.” Morgan is likely referring to the fact Ripple selling all the 1 billion tokens could significantly affect (in a negative manner) the token’s price. Related Reading: These Bullish Factors Prove XRP Price Rally Is Not Over Yet Morgan’s tweet came in response to another X user (Alter Diego), who suggested that Ripple wasn’t relocking those tokens of its own volition but because there was no demand for them. He mentioned that the crypto company’s inability to sell “even half of its monthly XRP escrow release” despite gaining clarity says a lot about the coin. The fact that Ripple doesn’t manage to sell even half of its monthly $XRP escrow release even after “having gained clarity” should tell you everything you need to know about this coin. — Alter Diego (@elalterdiego) October 9, 2023 Another member of the XRP community noted that Ripple could sell all the tokens from its monthly release, and if they did, people like Diego would still complain that “they were dumping.” Meanwhile, he stated that most XRP sales from Ripple were made to “support the rails for new ODL networks which have to be primed.” Diego’s claims that there is little or no demand for XRP seem unfounded, as XRP sales have jumped this year. Meanwhile, institutional investors seem to be taking a greater interest in the token as institutional inflows into the the token continue to spike. Token price falls to $0.49 | Source: XRPUSD on Tradingview.com Ripple Has Lost Most Of Its Gains From ‘Second Victory’ In a prior tweet to the one where he explained why Ripple relocks its escrowed XRP tokens, Morgan noted that the token had lost most of its gains from Judge Analisa Torres’ denial of the US Securities and Exchange Commission (SEC) motion for an interlocutory appeal. Related Reading: 39-Month Cycle Says XRP Price Is Poised For Breakout To $1,000, Here’s When XRP had climbed as high as $0.6 following Judge Torres’ order. However, the token has dropped by over 2% since then to $0.49. However, despite the decline, many in the community are choosing to remain positive. One particular X user (who happens to be a software developer) noted that XRP’s price wasn’t solely dependent on the court’s decision as its price “will go where the market takes it.” Irrespective, the user believes that the token’s value is growing as the network’s developers continue to build “incredible things daily.” Featured image from American Banker, chart from Tradingview.com

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ICPUSD Internet Computer