Ripple will re-lock 1 billion XRP into the custodial wallet early this morning
According to Whale Alert monitoring, starting at 2:21 am today (UTC+8), Ripple has re-locked 1 billion XRP in the custodial wallet, worth about $1.546 billion.
In previous news, Ripple stated that it uses a custodial account system to provide transparency and certainty for the XRP market. The company locks up most of its XRP holdings to ensure that it will not oversupply and manipulate prices. However, the company also uses XRP in custody accounts to invest in and support projects within the Ripple ecosystem. Releasing 1 billion XRP tokens from custody accounts each month does not mean they all enter the market. Ripple may choose to sell some of them to institutional or retail investors, use some for its own purposes, or return some back into new trusts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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