Ripple Escrows 55 billion XRP
Ripple announced earlier this year that they are going to escrow 55 Billion coins in a cryptographically-secured escrow account.
They decided to do this in order to create certainty of XRP supply at any given moment. They have published a press-release today which states that the deposit of the XRP to the escrow account has been completed.
By doing this, people can easily calculate and verify the maximum supply on the market. This comes as a great news for investors, big or small, since there was always a fear that Ripple could flood the market at any point, with their reserve XRP. In fact, this should increase the trust investors have in XRP and we should see an increase in the XRP value pretty soon. (At the time of the post, XRP already started climbing in value on Bitstamp).
They have explained how the Escrow account works. You can read everything about this news on their website:
https://ripple.com/insights/ripple-escrows-55-billion-xrp-for-supply-predictability/
What do you guys think? Will we experience an important rise in XRP value, or will this news just stir the waters a bit, and the value will go back down to roughly $0.21.
What are your thoughts on this?
nice post @djeby
Thanks. Just sharing the news i got from them. :)
I think its way to much! More coins, less value.
They need to find a other way to gain popularity.
When they release it, there will be a little peak, but after that i guess its going down on the same speed.
Well, I think that was their point all along. To escrow some coins, and increase the value since 55 billion is over 50% of the total supply (100 billion). Blocking those coins, could mean an increase in the price of the XRP.