Since the value of XRP increased to more than $0.62, the move has attracted a lot of attention. This announcement represents a significant shift in Ripple's cryptocurrency ownership strategy and comes amid a frenzy of activity in the market.

According to the blockchain monitoring firm Whale Alert, Ripple completed three different transactions, putting 800 million XRP in escrow. 200 million coins, estimated to be worth $118.94 million, 100 million coins, estimated to be worth $59.48 million, and an additional 500 million coins, or about $297.65 million, were transferred as part of these transactions. It is believed that Ripple is attempting to control and manage the amount of XRP available in the market with this calculated move.

The locking of this enormous quantity of XRP has been accompanied by a discernible rise in the price of the cryptocurrency, which broke through the $0.62 barrier after the escrow transaction. Market watchers and experts are closely monitoring these events because Ripple's actions are perceived as a means of influencing the supply and dynamics of the XRP market.

On social media platform X, Bill Morgan, a lawyer with a favourable opinion about XRP, posted his observations. He saw a change in the opinions of the community about Ripple's escrow operations. Although some holders of XRP had previously viewed these activities with scepticism, the current narrative offers a more optimistic assessment of the possible effects on XRP's standing and value in the international market.


At the time of reporting, XRP was trading at $0.6342, having increased in value by 6.62% during the previous day. This increase in value is a result of Ripple's sizable escrow transaction, which has impacted the market price of XRP by essentially reducing its supply.

Furthermore, an increase in open interest of 11.64% suggests a substantial inflow of fresh capital into the futures markets, according to data examined by Coinglass.

This implies that the recent XRP and Ripple-related events have not only impacted the price of cryptocurrencies but also drawn new investment to the market.

In spite of this, certain indicators suggest that the recent price spike may be followed by a time of consolidation soon.