Ripple Unlocks 1B XRP, Sparks Questions Amid SEC Lawsuit!

• Ripple Labs unlocked 1 billion XRP from its escrow account, which it received in several batches.
• Ripple has been using the XRPs from the escrow accounts to incentive developers on the XRPL and institutional financial partners intending to tap into its RippleNet services.
• The ongoing SEC lawsuit has dragged down the asset’s performance significantly in the past two years, with Chairman Gary Gensler indicating that every cryptocurrency except for Bitcoin is an unregistered security.

Ripple Unlocks 1 Billion XRP From Escrow Account

Blockchain payment giant Ripple Labs continues to sell XRP from the escrow account despite the ongoing lawsuit filed by the SEC accusing the former of selling unregistered securities. As the world ushered in March 2023, Ripple Labs received 1 billion XRP from their escrow account in several batches.

XRP Used To Incentivize Developers And Partners

Ripple has been using these funds to incentivize developers on their XRPL platform and institutional financial partners looking to tap into its RippleNet services. For example, 50 million XRP were sent to an unknown wallet yesterday according to on-chain data.

SEC Lawsuit Weighs On Asset Performance

The ongoing lawsuit between Ripple and SEC has significantly dragged down asset performance over the past two years. This was further compounded when Chairman Gary Gensler stated that all cryptocurrencies except for Bitcoin were unregistered securities.

XRP Price Analysis

The price of XRP has rebounded from a multi-year falling trend line that began in mid-April 202 and is currently consolidating within a macro wedge formation after hitting its ATH around $3.4 back in 2018. Should history repeat itself, crypto analysts expect prices will retest support at $0.32 or $0.35 levels soon enough.


Overall, although there have been some positive developments such as unlocking of 1 billion XRP tokens from escrow accounts, investors remain cautious due to pending lawsuits with regulators affecting asset performance over time. Crypto analysts are expecting prices to retest support levels soon enough if history repeats itself again this time around as well

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