Ripple's latest quarterly report reveals that the company currently holds 4.682 billion XRP tokens in its wallets.
Additionally, there are 39.5 billion XRP tokens locked in on-ledger escrow. Ripple implemented this escrow system in 2017, initially locking 55 billion tokens, with a billion tokens being released each month according to a set schedule. The company also occasionally re-locks some of these newly released tokens.
Earlier this year, Ripple’s CTO David Schwartz mentioned the possibility of “blackholing” escrow tokens, a method that could render them unusable. However, this remains unlikely. Schwartz noted that Ripple initially planned to use the tokens for giveaways but shifted strategies after XRP’s market price increased.
The company explored other options, such as sales with lockups and using XRP to incentivize partners, but found these strategies similar to selling XRP directly.
The recent report highlights that XRP experienced significant volatility in the second quarter, with realized volatility above 90% before decreasing to 45% later in the quarter.
Additionally, on-chain activity on the XRP Ledger dropped compared to the previous quarter. Ripple also announced the name of its stablecoin and continued its ongoing legal battle with the SEC.
Tether’s USDT, the largest stablecoin, continues to strengthen its market position, with its market capitalization nearing $120 billion for the first time.
A cryptocurrency investor earned $131.72 million by buying Ether during the 2022 market downturn and holding onto it through two years of market uncertainty.
Ripple Chairman Chris Larsen has recently moved 20 million XRP as part of a larger shuffle involving 50 million tokens.
Crypto-focused travel booking platform Travala has announced its integration with Solana, the fourth-largest blockchain by market cap, marking its third network addition after Ethereum and BNB Chain. CEO Juan Otero revealed this development during a panel at Solana Breakpoint in Singapore.