Ripple released 1 billion XRP from its escrow for partners and 3rd parties

02 Apr, 2019 | Updated: 02 Apr, 2019
by Fifi Arisandi
News
Ripple released 1 billion XRP from its escrow for partners and 3rd parties

One billion XRP tokens has just released from Ripple's escrow and offered to partners and 3rd parties. 

Ripple just released 1 billion XRP from its escrow for their partners and interested third parties.

With the current market price, it is valued more than $316 million, all of which will be available for purchase by the aforementioned parties. According to the "rule", if there are unsold tokens, they will then be returned to the escrow.

The release of XRP from Ripple’s escrow is actually not uncommon, in fact, it is done regularly every month as part of the company’s effort to increase their native token’s liquidity.

That said, many consider the above practice as controversial, at the same time, it also raises questions regarding the company’s “relationship” with their token.

According to Coindoo, some die-hard cryptocurrency principle holders think that XRP is more similar to a security or company stock than a true cryptocurrency as envisioned by Satoshi Nakamoto.

Addressing such opinions, CEO Brad Garlinghouse can be seen defending the decentralized status of XRP on Quora.

“Ripple is not centralized. To be clear, if Ripple disappeared today, XRP would continue to function. To me, that’s the most important measure of whether something is decentralized,” he wrote.

To find out ow Ripple as one of the payment service providers has been doing so far and how it is compared to Stellar, which is considered as its biggest competitor, check out this analysis.

Read more: Ripple vs Stellar: The history, rivalry, and future

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