It seems there is some confusion over Ripple’s plans to lock up a portion of the XRP supply. At one point, the website mentioned how this had already happened. That is not the case, however, as the lock-up still needs to occur. It is unclear when this will happen exactly, though. The wording on the website is now updated to make things more clear. Everything is still looking good for XRP, that much is certain.
No one can deny the plans by Ripple will have a big impact. More specifically, locking 55bn XRP into escrow contracts is a big deal. As of right now, there is no exact date for when this will happen. Contrary to what some people believe, it has not happened yet. The Ripple website wrongfully represented this change until a day or two ago. After users pointed out the wording was confusing, it has now been changed accordingly.
Addressing the Wrong XRP Escrow Information
More specifically, it appeared as if the lockup had already happened. This would be quite strange as there has been no official mention whatsoever. This created some confusion and speculation among XRP holders and investors. With half the supply gone for a time, the price should appreciate over time. That has not happened as of yet, though. Mainly because the lockup has yet to happen.
Placing this money in escrow is a smart decision by the Ripple team. Many people fear the total supply scares off potential investors. It is doubtful that is the case, though. Just because there are billions of XRP doesn’t mean people won’t invest. After all, some experts predict a price of $2 per XRP in the near future. That goal may prove to be rather ambitious, though, but time will tell how things play out. A tenfold increase in price certainly would be spectacular.
For the time being, everything is still as it was for Ripple. The plan to lock up 55 bn tokens will still go ahead as planned. When that will be, remains anyone’s guess at this point. It is scheduled to occur in the next few weeks. When it happens, it will be interesting to see how and when the markets will respond. Right now, there is a rather bearish sentiment as far as XRP is concerned. That situation may not last much longer, though.
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