Ripple Moves 1 Billion XRP In Latest Monthly Escrow Release
Ripple has not ruled out burning its remaining XRP escrow, but Chief Architect David Schwartz doubts it would materially affect price. He cited Stellar’s 2019 burn of 55 billion XLM, which did not trigger a clear price response. Schwartz said Ripple could permanently keep the locked XRP out of circulation or transfer control of the escrow account to achieve a similar effect. CEO Brad Garlinghouse also said he would not rule out destroying the reserves. This comes after Ripple’s latest monthly escrow release of 1 billion XRP in three transactions worth more than $1.33 billion. Ripple holds about 38.15 billion XRP still locked, out of the 100 billion total supply. The monthly unlock does not all hit the market, since Ripple typically re-locks much of it and only uses a portion. The XRP Ledger supply cap remains fixed at 100 billion.
