Ripple Labs locked 700 million XRP in escrow across three transactions. This move reflects the company’s strategy to mitigate market fluctuations after XRP’s price fell sharply below 3 USD.
XRP saw a decline of over 10% in value, primarily influenced by the U.S. Federal Reserve’s interest rate decision. Despite these challenges, analysts forecast a bullish outlook for XRP, suggesting potential price recovery.
Ripple’s escrow system is designed to manage XRP’s market supply and reduce price volatility. This technique, in place since 2017, aims to stabilize prices during market fluctuations.
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