Ripple change XRP escrow strategy, release $2.2B XRP enter market as dem dey yarn about ETF.
Ripple Labs don change dem regular monthly plan, dem don release $2.2 billion worth of XRP (1 billion tokens) from dem escrow for June 2024. After dem lock back 670 million XRP, the money wey dem add to the market na 330 million XRP, wey make the total XRP for circulation reach about 58.76 billion. This way wey Ripple change dem escrow plan, wey dem first notice for March 2024, show say dem wan do their money management more carefully and make the market stable because of the government rules wey no clear. The money dem release for June happen in three big transactions wey Whale Alert track, and one big transfer wey happen for Coinbase dem say na internal movement, e no affect the market directly. This changes also come as people dey hope say XRP spot ETF fit get approval, with current estimation saying na 98% chance before the year finish. SEC don postpone decision on spot XRP ETFs, dem dey ask for public opinion. Important to note say Ripple don stop to dey release monthly XRP reports, dem prefer less frequent updates. Traders suppose dey watch Ripple's changing escrow approach and the government rules wey dey come out, as changes in XRP supply and ETF approvals fit cause short-term price go up and down and affect long-term price trends for XRP.
Neutral
Ripple wey no dey regular release their escrow since March 2024, wey reach top for June with $2.2 billion XRP wey dem release and 330 million net supply increase, don show say dem dey careful with how dem dey manage their money. When transparency reduce and dem change how dem dey release am, e fit reduce people wey wan sell sharp sharp, and e go help XRP price stay stable for small time. At the same time, tori wey dey go around say SEC go approve XRP ETF (wey get high chance to happen) don make market people dey happy, even though dem never finish all the government palava. The result na mix up: small new supply and correct management fit help make things stable, but when transparency change and government delay things, e fit cause confusion. Overall, for short time, e go be neutral, but the way price go dey jump go depend on wetin government go still do.