Ripple Don Lock $2B for XRP Escrow as Price Don Drop Below $3
Ripple Labs don move 700 million XRP (like $2.08 billion) go put for escrow inside three transactions (100M, 500M, 100M) on August 2. Before this, dem transfer 200M and 300M XRP from unknown wallets. The monthly XRP escrow system wey dey since 2017, normally dey release 1 billion tokens on the 1st and then lock back about 80% to prevent oversupply. This month operation delay one day. XRP price drop over 10%, e fall from $3.32 to as low as $2.94 after US Federal Reserve hold interest rates steady, e trigger big crypto sell-off. Later, the token recover reach about $2.98. Despite the slump, XRP’s active escrow management show say supply dey under control. Analysts like Javon Marks dey predict say e go bounce back to $4.80, while Bloomberg’s Eric Balchunas talk say get 85% chance make XRP ETF get approval this fall.
Bullish
Di tori say di other $2 billion XRP escrow lock dey show say Ripple still dey control how dem dey supply the token, e reduce di yawa wey fit make di price fall for di tokens wey dey circulate. Even though Fed hold im rate make di price drop small pass $3, di quick recovery near $3 show market sef strong. Di better forecast wey analyst dem give — $4.80 target plus 85% chance say ETF go get approval — dey add positive mind for market. Overall, di controlled escrow release and strong ETF chance dey support beta look for how XRP price go take move for di medium term.