Ripple May Announce Extended XRP Supply Lock-up In June

By JP Buntinx — May 9, 2017

A lot of people are keeping a close eye on what will happen to XRP over the coming weeks. The currency set a new all-time high yesterday, but was dumped hard ever since Poloniex started having “issues” again. This is the third time the exchange suddenly goes blank when XRP is gaining in value. However, it looks like there may be some good news for XRP moving forward, as it is possible the team will announce a coin lock-up soon.

Ripple May Be Moving Toward A Coin Lock-up

Although the following information has not been officially confirmed right now, it poses some interesting trains of thought. To be more precise, there is a rumor Ripple is planning to announce a big move in June of 2017 that could send major shockwaves through the community. It is believed the team will announce an extensive coin lock-up agreement.

In doing so, the Ripple team aims to address any lingering concerns people may have regarding the available XRP supply. Right now, that supply is quite large, although it will not continue to increase any further. In fact, the XRP will gradually decrease, as Ripple transactions using the XRP tokens will result in small amounts of tokens getting destroyed. This effectively reduces the available coin supply over time, albeit it will not see any major drops overnight.

The goal is to make the individual value of each XRP higher more precious over time. Right now, XRP is seeing a significant boost in market share and individual token value. Even though a lot of the positive momentum was undone during yesterday’s Poloniex issues, the market remains very bullish right now. This is quite intriguing, considering XRP has seen a lot of trading these past few days.

The official news regarding the future of XRP – assuming an announcement like this will take place to begin with – is expected to made at the upcoming Consensus 20107 conference. Ripple CTO Stefan Thomas will talk about different consensus mechanisms during the event. If the team successfully manages to address the doubts and uncertainties regarding the XRP supply, things can get very interesting from here on out. It is unclear if XRP can continue its bullrun, though, but for now, there is no reason to despair just yet.

Header image courtesy of Shutterstock

About the Author

JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

29 responses to “Ripple May Announce Extended XRP Supply Lock-up In June”

Valossa Raptor
May 9, 2017
Ripple was created by the same founder as Mt. Gox; Jed McCaleb. The company plans to keep half the coins. He lost a lost of money in that fiasco so I don’t trust Ripple at all.
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1. Céderic
  May 9, 2017
  McCaleb is out of Ripple … .
  See: http://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds/
  He’s behind Stellar… similar cryptotech
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2. Pete M
  May 9, 2017
  But remember Jed sold Mt. Gox before the crash
  There still time Raptor for you to get in XRP, If you don’t, you’ll wish you had!!!
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3. D.R.
  May 9, 2017
  McCaleb is long gone and has nothing to do with Ripple. He took allot of XRP with him, but Ripple managed to impose a contract in which he is not allowed to sell when he wants but can only sell partialy every few years.
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4. Bitcoins and Gravy
  May 11, 2017
  Valossa I’m afraid you haven’t done your research my dear one.
  The Ripple network will continue to be used by banks around the world.
  Whether Bitcoin purists or fanatics like and support the Ripple model is irrelevant.
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5. Pete Steel
  May 13, 2017
  Agreed and find the idea of digital world Bank ran by a single corporation depressing as hell. I however am invested heavily in xrp. If they do lock up a significant portion of xrp, speculation will go crazy. Japanese Banks and other international banks are partnering with Ripple. It’s looking like it’s going to become a reality. Put all personal feeling aside and you probably don’t want to miss out on getting in on this.
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whowhatwhywhen
May 9, 2017
Ripple is the investment opportunity of a lifetime. Time is ticking to buy XRP. It takes new investors a few days to send fiat to poloniex, so start now if you are thinking about it.
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1. roboosi
  May 9, 2017
  true story , me as a crypto currency follower , can say that ripple has a big future , i made 12k € in 4 months , just invest in it you will not regret it
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  1. DeErick Bibles
    May 11, 2017
    How do you invest
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    1. Channel Tech
      May 11, 2017
      click on this link below and join.
      http://45.77.1.122/ref/bulletking?token=Ekge1u0XMxdG1hONiYwRLdKib5SwgPPmU8Dl8bNh2ZKYshaxzJ
      u can buy unlimited ripples over there.
      before registering to that address, u need to have ripple wallet. and if u dont have ripple wallet than go to http://gatehub.net
      and creat ur wallet.
      Log in to Reply
SBH
May 9, 2017
I’m a supporter of Ripple, have done well with returns, but not sure if Poloniex is the issue behind XRP’s major sell off yesterday. Yes, Poloniex still has problems but if this were the case, how come all the altcoins didn’t sell off that day. My suspicion is some whale doing a pump’n’dump. Steem, stellar, ripple, and a few others were doing well so all of them should’ve gone down if Poloniex is the issue. Anyways, i’m still in with Ripple.
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1. whowhatwhywhen
  May 9, 2017
  Ripple went up to 0.24 cents ($US) but has since held stable at around 0.17. Considering the crazy two months we have had with ripple surging 3000%, I’d say this is a pretty solid investment.
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  1. Ryan Ha-aut’z Chavez
    May 10, 2017
    I agree. I can see Ripple hitting the .40 cent mark very soon. That dump yesterday was a small blessing in disguise for investors to capitalize on. Ripple is locked in and solid.
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Aaron
May 9, 2017
How do I buy Ripple?
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1. whowhatwhywhen
  May 9, 2017
  buy bitcoin from Coinbase. Simultaneously, sign up with Poloniex. Once your bitcoin are available in your coinbase account, transfer those to your poloniex account via your bitcoin deposit address. Now you can use the exchange at poloniex to trade bitcoin for XRP. It is not the easiest process, and it takes a few days for your bank account to send the money to your coinbase account for the purchase of the bitcoin (hence, why Ripple can change the banking industry so that payments are instant, versus 3 or 4 days).
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  1. Ryan Ha-aut’z Chavez
    May 10, 2017
    Coinbase, unfortunately is taking longer than expected right now on crediting users with bank/wire purchases. I found a site that looks promising http://www.paxful.com to buy Bitcoin at a lower rate than what Coinbase offers. I hope that helps.
    Log in to Reply
    1. Bitcoins and Gravy
      May 11, 2017
      http://www.paxful.com is NOT a trusted source for buying or selling Bitcoin. Do NOT use it. That’s just my opinion.
      Log in to Reply
      1. Ryan Ha-aut’z Chavez
        May 11, 2017
        Yeah, I need to update my comment because I didn’t realize what kind of a site it was until I actually looked at how purchases work. Will have to stick with Coinbase until Bitstamp has updated their purchase methods.
  2. Aaron
    May 10, 2017
    Thanks. Is it possible to buy ripple by purchasing it with a debit card? I signed up for Gatehub.net today and it seems they are dedicated to ripple. What would you say are some benefits of Poloniex? I can’t purchase bitcoin on coinbase because coinbase been banned from Hawaii. Do you know any loopholes around that?
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    1. Cryptocurrency World
      May 10, 2017
      Aaron, you can try to use VPN and choose the location in USA other than Hawaii. However, if that is a law in Hawaii, I probably would skip it. Other way you can try to buy Bitcoins here https://wesellcrypto.com/, but the fee is much higher even compared to Coinbase. The most cheapest option was for me is to do a Wire Transfer from my Bank to Kraken exchange, however, it took 1 week to get my money on Kraken. If you don’t care about Fees and paying extra for saving time, I would go with wesellcrypto. Just send them a message, get a verification and you can buy up to $250 a day. If you ask, they can increase the limit, but they will need to see that at least one transaction went through 😉 Enjoy you Cryptocurrency Journey.
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2. Cryptocurrency World
  May 10, 2017
  Aaron, if you are new to cryptocurrency, this might be a helpful video: https://www.youtube.com/watch?v=fqdy3EfyJfk, and this one https://www.youtube.com/watch?v=PnDgcVzFQmM.
  Also, I might look into Kraken exchange more or even Bittrex, due to latest Poloniex freezing moments.
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  1. Aaron
    May 10, 2017
    Thanks, watching now.
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    1. Kyle Smet
      May 10, 2017
      Aloha Aaron,
      I’m on the Big island and can help with some stuff. Ad me on Skype if you like… Big Island Bits
      Log in to Reply
3. Natasha
  May 10, 2017
  Hello Aaron,
  easiest way to buy ripple as i know is creating account on bitstamp and then you can buy it by euro/usd. To bad they doesn’t have option to pay via credit card for it. So you must send SEPA. Good if you have bank account in EURO/USD. Sending money to bitstamp take usualy one working day.
  Other option is to buy bitcoin by credit card on bitstamp and then buy xrp via bitcoins. You can buy bitcoins by credit card there.
  Hope they will add buying xrp by credit card 🙂
  Best regards!
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  1. PhishyKris
    May 10, 2017
    I have a Coinbase, BitStamp and POLO account. I have all my XRP on BitStamp…I like it and its easy and never has lag issues:)
    That being said Coinbase to POLO works as well. Lot’s of options.
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    1. Bitcoins and Gravy
      May 11, 2017
      PhishyKris having all your XRP on BitStamp is A HORRIBLE idea!!!!!!!!! Guys listen – all of you: Any time you have cryptocurrency on ANY exchange, you are risking losing it.
      Basically exchanges are considered CUSTODIAL accounts or wallets.
      To store your XRP you will be MUCH, MUCH, MUCH safer using Gatehub.
      Remember guys… when an exchange fails it can happen overnight. It can be fraud from inside – like Gox and Cryptsy. It can be major hack that cleans out wallets. It can be a government lockdown or takedown.
      The ONLY way to make 100% certain that your bitcoin or other cryptocurrencies are safe is if YOU HOLD YOUR OWN PRIVATE KEYS in a cold storage option. Figuring this out takes RESEARCH and time and dedication.
      How much is your BTC worth? Do you know how to create a paper wallet? A client wallet? Do you care to invest in a Ledger Nano S and figure out how to use it?
      The sad thing is that there are a lot of cryptocurrencies these days that DO NOT offer wallet options – unless you can write code and then you can probably figure it out pretty easily.
      DO NOT trust anyone else with your Bitcoin or any other coin.
      Research and keep asking questions. I’ve been asking questions since 2011 and I still have new crypto questions every day.
      Good luck guys!!!
      JB
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4. Channel Tech
  May 11, 2017
  Click on this link below and join.
  http://45.77.1.122/ref/bulletking?token=Ekge1u0XMxdG1hONiYwRLdKib5SwgPPmU8Dl8bNh2ZKYshaxzJ
  u can buy unlimited ripples over there.
  before registering to that address, u need to have ripple wallet. and if u dont have ripple wallet than go to http://gatehub.net
  and creat ur wallet. and if u have any questions regarding through this topic, plz fell free to contact me at (nightmareking010@gmail.com)
  thank you
  Log in to Reply
Joshua Tucker
May 10, 2017
“an extensive coin lock-up agreement”
What is a coin lock-up agreement?
What does that mean? What are the ramifications of such an event?
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1. Joshua Tucker
  May 10, 2017
  Went and googled it. Yeah, that sounds like good stuff if it happens.
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