Ripple, Inc. unlocked its monthly escrow, raising more questions about the performance of XRP. Over the course of 2019, the token has underperformed, also losing hopes of an end-of-year rally.
XRP Long-Term Holding Still Won’t Pay
XRP is still down around 30% this year, as 2019 nears its end. The latest unlocking of the scheduled escrow tranche releases 1 billion coins. It is uncertain how many of them would be distributed or sold by Ripple.
1,000,000,000 #XRP (225,092,032 USD) unlocked from escrow at Ripple Escrow wallet
— Whale Alert (@whale_alert) December 1, 2019
The selling may happen on OTC markets, but in any case, there is a large supply of coins and little demand beyond speculative trading and some limited testing by banks. Still, at near rock-bottom prices, XRP invited some buyers to hold the asset, hoping for outlandish returns.
XRP went as low as $0.21 during the latest sell-off, and some analysts marked this as buying level. However, holding onto XRP may be counterproductive and…