Ripple Discloses XRP Assets in Recent Financial Report
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In their Q1 report, San Francisco-based enterprise blockchain firm Ripple reveals a 1.7% increase in its XRP token holdings, bringing the total to 4.56 billion as of March 31. Conversely, the escrowed tokens dropped by 2.3% from 38 billion to 37.1 billion [1][2].
Ripple frequently unlocks tokens from the escrow monthly, with the last release occurring on May 3, where another billion XRPs were set free [1][2]. Typically, a portion of the newly released tokens gets returned to escrow, keeping the market supply in check.
Currently, with XRP trading at $2.15, Ripple's total controlled tokens are worth approximately $98.6 billion [1][2]. In light of Ripple's extensive XRP holdings, Bitwise President Teddy Fusaro recently speculated that Ripple could potentially acquire multiple crypto businesses [1][5].
The Q1 report highlights Ripple's recent acquisition of Hidden Road, a multi-asset prime brokerage firm, for $1.25 billion [1][2]. Furthermore, rumors suggest that Ripple's interest in acquiring Circle, the stablecoin powerhouse behind USDC, may also be on the horizon [1][2].
In contrast, Ripple has been focusing its energies on organic growth, favoring strategic acquisitions over an Initial Public Offering (IPO) [1][5]. This approach grants Ripple the flexibility to grow without public market pressure.
When it comes to using XRP for acquisitions, the firm's financial decisions are primarily driven by its cash reserves and strategic business needs [1][5]. XRP primarily serves as a means for facilitating transactions and payments rather than acting as a direct source for corporate acquisitions.
Stay tuned for more updates on Ripple and the crypto market.
Reference(s):[1] 'Ripple News'[2] '#XRP News'[5] 'General Crypto Industry Insights'
- The Q1 report from Ripple, a San Francisco-based enterprise blockchain firm, reportedly shows a 1.7% increase in its XRP token holdings, bringing the total to 4.56 billion as of March 31.
- The escrowed tokens dropped by 2.3% from 38 billion to 37.1 billion, according to the report.
- Ripple frequently unlocks tokens from the escrow monthly, with the last release occurring on May 3, where another billion XRPs were set free.
- Currently, with XRP trading at $2.15, Ripple's total controlled tokens are worth approximately $98.6 billion.
- Bitwise President Teddy Fusaro recently speculated that Ripple, due to its extensive XRP holdings, could potentially acquire multiple crypto businesses.
- In contrast to possible acquisitions, Ripple has been focusing its energies on organic growth, favoring strategic acquisitions over an Initial Public Offering (IPO).
