Ripple's Release of 400 Million Tokens Confused the Community

San Francisco blockchain company Ripple has unlocked 400 million XRP tokens, worth around $217 million, from their escrow account, as reported by Whale Alert. This unexpected move sparked curiosity within the XRP community .

Amplifies Curiosity: Strange memos attached to transactions add intrigue. The memo questioned February's escrow implementation and included the message "Welcome back Hodor!!" and "John Deaton!!" Unusual.

XRP Community Confused by Unexpected Token Release

The recent unlocking of the XRP token has left the XRP community confused, as it deviates from Ripple's typical schedule. Many community members stated that the opening time did not match Ripple's usual pattern.

Following the news, X's social media platforms were filled with reactions from community members. Speculation abounded, ranging from theories suggesting the release would be a week early to others suggesting a three week delay.

This unexpected event follows a transaction in February where only half a billion XRP tokens were locked in escrow, a stark contrast to the amount unlocked in January.

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Ripple's Monthly Token Release Practices

Ripple regularly releases a certain amount of XRP tokens from their escrow account on the first day of every month.

This helps make the supply of XRP clear and predictable, ensuring only a certain number of tokens enter the market at once. This reduces the risk of a sudden increase in supply.

The aim of this monthly release is to prevent market manipulation and keep the price of XRP stable. By controlling how many tokens are released, Ripple aims to create a safer environment for investors.

Additionally, the money raised from these token sales is used to fund Ripple's operations, projects, and investments in the broader blockchain world. This helps support Ripple's ongoing work in the industry.

Understanding the Ripple Token Release

The release of Ripple tokens may refer to several processes, depending on the context. Here are some possible situations and "tricks" that may be involved:

1. Token Release from Wallet

If you want to release or transfer Ripple tokens (XRP) from your wallet to another wallet or to a trading exchange, the general steps include:

• Log in to your crypto wallet.
• Find the option to “Send” or “Transfer” XRP.
• Enter the destination wallet address and the amount of XRP you want to send.
• Confirm the transaction and wait until the transaction is finished processing.

2. Release of Tokens from the Exchange

If you want to sell Ripple tokens on a crypto exchange to exchange them for other currencies or make a profit, the steps can be as follows:

• Log in to your account on the crypto exchange you use.
• Find the XRP trading pair you want to sell (for example, XRP/USD or XRP/BTC).
• Select the option to sell XRP at a price that suits your preferences.
• Confirm the sell order and wait for it to be executed.

3. Token Release for Payment or Conversion

If you use XRP for payment or conversion purposes, you need to ensure that you have the correct receiving address and sufficient XRP balance in your wallet to carry out the transaction.

4. Token Release in Ripple Protocol

In the context of the Ripple protocol, token release can refer to the creation of tokens held by a gateway or financial institution that issues tokens that can be managed by users within the Ripple network.

Also read How to Buy Crypto:

How to Buy XRP on Bittime

After knowing what XRP is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. XRP tokens are available on Bittime in  XRP IDR pairings. 

 Below is a guide on how to buy XRP tokens on Bittime. 

1. Register an account at Bittime using an active email. 
2. Complete the identity verification process.  
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon. 
5. Select IDR pairing to buy XRP with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy XRP.
9. Click the 'Buy XRP' button. 
10. A notification pop up will appear. Read it carefully and click 'Confirm'. 
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification. 

For a complete guide on how to buy XRP, click  here .

Apart from buying XRP tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, SOL price chart movements today to find out crypto market trends  on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo. 

Also Read: 

Ripple vs SEC: Ripple Fights Additional SEC Lawsuits with New Evidence

Ripple (XRP): SEC Requests Ripple Financial Report Post-Approval of Bitcoin Spot ETF

Court Orders Ripple to Open Its Financial Records

DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.