Defrosting Ripple tokens can lead to lower cryptocurrency costs. However, CryptoWelson analyst named the reason why the asset will go into a phase of strong growth.
Another billion XRP has been unlocked today, according to the Whale Alert bot. At the current rate, this amount is $ worth 295 million. Ripple froze 55 billion of its XRPs in December 2017. Such measures were taken by the company so that investors could not sell all assets at once and thereby bring down the cryptocurrency rate. Since then, 1 billion coins have been thawed every month.
Removing the lock means that Ripple investors can crash the price of an asset by selling tokens. However, CryptoWelson analyst is sure that cryptocurrency has been accumulating for more than a year and expects strong growth.
“I look forward to a huge increase in XRP. Over the past year, the token has been quite stable and was in the accumulation phase. With so much news and partnerships … this coin is ready to take off” – The analyst wrote in his Twitter account.
Ripple released a study yesterday on the volatility of its xCurrent product. It states that using the XRP token for international transfers is 10 times more reliable than SWIFT.