Ripple 
$0.521481attracted attention on Friday. The company released approximately 900 million XRP from its escrow account. This major move occurred simultaneously with the development of a major lawsuit and sparked market debate over future price movements. While XRP is currently trading at $0.52, general market speculation is targeting new highs in light of recent developments.
XRP Supply Increased
According to Whale Alert data, Ripple released 900 million XRP from escrow in two large transactions on November 1. In the first transaction, 500 million XRP (worth $254.70 million) was transferred to rDqGA2Gfve. In the second transaction, 400 million XRP (worth $203 million) was sent to rw2hzLZgiQ.
These escrow transactions increased the token supply, increasing investors’ concerns. Current data says that a large amount of XRP has been transferred from whale accounts to exchanges. The approximate annual inflation of XRP Coin is around 6 percent, and while the supply in circulation increases every year, price expectations are diminished.
The Future of XRP
While the appeal process of the Ripple case continues, large XRP Coin transactions attract attention. The U.S. Court of Appeals for the Second Circuit set a Jan. 15 deadline for the SEC to file opening statements in the ongoing case.
XRP is currently trading at $0.51 and its volatility was high today due to the BTC volatility. The daily bottom and top prices of the token were recorded as $0.5039 and $0.5234, respectively.
XRP Coin’s daily trading volume increased by 42%, reaching $1.25 billion. The latest XRP price analysis suggests that the token could rise to $25 soon as the US elections approach. Analysts think this goal is possible, especially in light of Donald Trump’s crypto-friendly stance and the Republican party’s odds of winning. However, we can say that figures above $3 are assertive compared to the current circulation supply, and even double-digit prices are cynical for a 1-year period. Open positions of XRP in the futures market decreased to $734 million.
Important legal developments and market activity may play a critical role in determining XRP’s future performance. It may be beneficial for investors to closely follow both the major movements in escrow and the results of the SEC case.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
