Ripple to dump all its unlocked XRP reserves as 2023 ends
Ripple is the largest XRP holder, with most of its holdings so far locked in escrows until 2027. Every month, 1 billion tokens are unlocked and managed by the company, arbitrarily re-locking or keeping its desired share. In December, Ripple kept 200 million XRP (20%) and re-locked the rest in escrows set for April and May 2027. The crypto wallet account holding its available reserves is labeled as ‘Ripple (1)’ by XRP Scan . Usually, the company sends to this account what it wants to keep each month, later paying an unlabeled address. Which then routes the amount to a series of other unlabeled addresses, likely controlled by the same owner, until the XRP tokens reach centralized exchanges. In most months, Ripple will spend the entire un locked amount. In others, the company will sell just a part of it, keeping the rest in its reserves . Ripple already spent 240 million XRP in December Cryptocurrency Cardano founder and Ripple CTO at odds over Trump’s removal from Co...