Ripple has again issued 1 billion XRP from its escrow account.
XRP cryptocurrencies were opened in two separate transactions of 500 million each.
The issuance of XRP coins comes from the guarantee at the beginning of each month, and it seems that Ripple has not failed to do so with the beginning of the current new month in March, as Ripple has kept pace with this process since 2017.
Releases from the escrow account for XRP are scheduled periodically and set at the beginning of the month.
As for the reason for Ripple’s doing this, it is due to Ripple’s strategy, which aspires to strengthen its ecosystem, help startups, and maintain the consistent use of the XRP digital currency, all of which has been reported by the company on several previous occasions.
As we indicated at the beginning of the article, 1 billion XRP was issued in two separate transactions worth 500 million XRP each and indicated by the “Whale Alert” Twitter account.
With the release of 1 billion XRP digital currency in the market, more liquidity can be found on the Ripple network, and investors will now have the opportunity to buy more XRP.
The new XRP coins issued recently come from the Guarantee Fund, coinciding with the ones being offered to the market also by “Jade Malkalb” co-founder of Ripple.
Maklib is actively selling his XRP funds, after the agreement he made with Ripple before leaving Ripple in 2014 to establish the XLM stealer project, Maalib will receive, as stipulated in the agreement, 8 billion XRP.
Malkalb was periodically selling XRP coins from his account amid pressure from the SEC’s lawsuit against Ripple and its executives.
According to data from XRPScan, the co-founder now has about 30.5 million XRP left.
At the moment, the price of the XRP digital currency has fallen below the psychological barrier of $ 0.50 again, and the cryptocurrency will likely face continuous headwinds until the legal case it owes that the SEC filed against it is resolved.
Although the ripple currency has fallen below $ 0.50, the currency has managed to rise by nearly 6% in the last 24 hours and is currently trading at $ 0.44.