Ripple Unlocks 1 Billion XRP: So What Are These XRPs Used For?

🚨1 billion #XRP unlocked.

Despite the legal troubles it is currently experiencing, #Ripple has again unlocked 1 billion XRP and drew backlash. Ripple has actually been unlocking 1 billion XRP on the first day of each month for years, removing it from its escrow wallet. So what exactly does this mean and does it affect the XRP price?

↘️What Causes Ripple's Mass XRP Transaction?
In fact, Ripple management has made a different decision regarding these XRPs since the beginning of 2020. It is known that normally unlocked XRPs are used for different developments and that they are used by Ripple. As of 2020, Ripple has started to lock the majority of the XRPs it has unlocked.

It is estimated that the fate of 1 billion XRP, which was unlocked with 2 transactions as of April 1, will be similar. Ripple has used approximately 100 million of the XRPs it has unlocked in recent months, equivalent to $ 50 million. These funds are used for #MoneyGram #partnership or partnership with market maker institutions for XRP.

↘️Ripple Doesn't Use All 1 Billion XRP
For now, the partnerships of the company are decreasing one by one due to the lawsuit against Ripple, and MoneyGram is the biggest example of this. It is seen that the trade volume of XRP is also $ 4 billion in the last 24 hours. This shows that Ripple can have a very serious effect on the price by selling 1 billion XRP, or 500 million dollars.

XRP / USD, on the other hand, has gained 4.2% in the last 24 hours as of the time this article was written, showing that such a situation is not the case. What Ripple will do with a tiny fraction of these funds has not been disclosed.