A lot happened in the cryptocurrency space this morning. Ripple moved 1 Billion in XRP from escrow around the same time that a Bitcoin whale moved 40,000 BTC, equivalent to $214, from one wallet to the other. This Bitcoin was moved in three transactions and the total money spent on fees was about $3.94. Why the user moved the BTC to an unknown wallet is not clear. It may have been used to pay for services or may have been sent to another wallet which is under the control of the user.
By releasing one billion in XRP from its escrow holdings, Ripple is most likely making plans to put the tokens into circulation by selling them to institutional investors as it did with the XRP holdings it removed last time. It would also sell some of the tokens to cryptocurrency exchanges. What is Ripple doing with all these funds? It’s true that the company uses funds like these for operations. However, Ripple also spends a lot of money on marketing and innovation. There have been rumors that the company is working on something big that would even lead to an increase in the adoption of xRapid and XRP.
The good thing is that even if the company hasn’t told everyone what it is planning yet. It always tells the public when it releases funds from escrow and has promised never to sell all its XRP holdings at once to keep investors at ease. But, many people believe that XRP is a security because of the percentage Ripple is controlling.
XRP Price Prediction 2019
XRP (XRP) Price Today – XRP / USD
The price of XRP was in green this morning just before the whale alert according to our XRP news. While it’s not clear if there is a direct relationship between the XRP Ripple released and the price drop, some investors are worried about the transaction. They believe that this isn’t the best time to increase the XRP in circulation as it may have a negative impact on the XRP price prediction 2019.
f anything, it is until there is regulatory clarity on Ripple (XRP) status that prices will begin moving. Presently, prices are ranging, oscillating within a 10 cents range from a top-down approach and 4 cents in the short-term.
Ripple XRP News – Mega-Banks Joining Ripple
XRP prediction 2019 has been a mixture of bearish and bullish pressure for the past few months. Last month, one of our XRP news was about how Ripple has been selling XRP and generating revenue. However, the company hasn’t given details about the exact plans it has for the funds generated from the XRP sales. This amounts to about $308 million at current rates.
According to the latest XRP news on newsbtc; with the facilitation of SAMA, the primary regulator in the Kingdom of Saudi Arabia, SABB, is part of the growing RippleNet family after launching Instant Cross-Border Transfer Service that will use XRP. Meanwhile, Ripple (XRP) prices are ranging with support at 30 cents.
With Brad Garlinghouse as CEO, Ripple Inc admits that it has a long way before they dominate the world. However, with they have to offer, it won’t be decades but rather years, before banks shift camps as they root for efficiency, speed and cost savings that Ripple Inc’s xCurrent, xRapid and xVia tags along. Saudi British Bank (SABB) is now part of the growing RippleNet family, and the effort of the Saudi Arabia Monetary Authority (SAMA) is paying off.
Here’s what Majed Najm, the Deputy Managing Director Corporate and Institutional Banking at SABB said:
“SABB provides its customers with faster, safer and more transparent cross-border payment services by the launch of “Blockchain” technology through “Ripple.” The Indian Rupee (INR) is a positive start to a future roadmap being the first currency to be activated in SABB. This plan aims to provide customers with a valuable service and link more countries and currencies in the near future.”
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