Something is Wrong With Ripple’s XRP Escrow Reporting

2019-5-18 08:42

Blockchain analysis and data firm, Coin metrics, has published a report that claims Ripple’s reports on their escrow service for XRP should probably be taken with a pinch of salt. This is because it found a few significant inconsistencies between the actual information found on the XRP ledger and what Ripple reports as the specifics of their escrow service.

Analysis of XRP Escrow Service

According to the report titled, “An on-chain analysis of Ripple’s escrow system” published on the 16th of May, Ripple has not been transparent about the actual amount of XRP released from escrow. The report says:

“Two quarterly market reports under-reported the number of XRP released from escrow by a total of 200 million XRP ($84 million at current prices).”

The report also claims that:

“The ‘escrow queue’ is implemented differently than announced, leading to a faster future release of escrowed funds compared to the announced schedule.”

Another inconsistency highlighted by the report states that a different an unknown escrow account controlled by an entity(ies) that may be connected with Ripple also released 55 million XRPs.

Ripple’s Escrow Service

In March 2017, Ripple officially launched its escrow service which allows funds to be held for a stipulated amount of time until other certain stipulated conditions are met. This could either be until an important date the funds are to be used is reached or just until a certain service is carried out.

According to the official Ripple announcement at the time, the Escrow is advantageous because no intermediaries are required and no single entity is tasked with keeping the funds until set maturity.

Normally, 1 billion XRP is released from escrow and given to Ripple to facilitate trades with institutional investors and also to support Ripple’s xRapid platform. Unused XRP is expected to be returned to escrow and takes the last position, behind any previously returned funds.

This “queueing” process, according to the report, is not done as Ripple has said, leading to a “faster future release” of the XRP.

Coin Metrics explained this saying

“It seems that instead of locking unused funds into the first slot (i.e., the first month) with no existing escrow, they were locked in such a way to maintain the fixed amount of 1 billion XRP in escrow per month.”

Coin Metrics stated in the report that efforts to reach Ripple to explain the inconsistencies discovered have not been fruitful as Ripple is yet to respond.

The post Something is Wrong With Ripple’s XRP Escrow Reporting appeared first on ZyCrypto.

origin »

Ripple (XRP) на Currencies.ru

$ 2.1493 (-0.06%)
Объем 24H $1.498b
Изменеия 24h: 0.59 %, 7d: -5.76 %
Cегодня L: $2.1461 - H: $2.1499
Капитализация $126.557b Rank 4
Цена в час новости $ 0.4063 (428.99%)

xrp ripple escrow found something reporting reports

xrp ripple → Результатов: 126


У Ripple (XRP) есть хорошие перспективы роста

Ripple (XRP) демонстрирует уверенный рост в последние дни. Этому способствует снижение активности ликвидаций среди долгосрочных держателей (LTH). Ончейн-данные показывают заметное замедление движения токенов Ripple (XRP) среди долгосрочных держателей ( LTH ).

2025-6-10 11:02


Can Ripple (XRP) bulls defend $2 as traders pivot to this new cryptocurrency?

Ripple’s native token XRP is holding close to the crucial $2 psychological level, and all eyes are on whether bulls can maintain momentum as broader market sentiment strengthens. With XRP sitting among the top cryptocurrencies and often considered one of the best cryptos to invest in, investors are now weighing its upside against newer opportunities. […]

2025-6-8 21:15


Ripple CEO Says XRP Will Rewire the Entire Banking System – Here’s What That Means

Ripple CEO Brad Garlinghouse has shared a bold vision for XRP, stating that it is on track to “rewire the entire banking system” – not just improve it. Speaking at the XRP Las Vegas conference, Garlinghouse urged the XRP community to focus on this broader mission rather than waste energy on rivalries with Bitcoin or […] The post Ripple CEO Says XRP Will Rewire the Entire Banking System – Here’s What That Means appeared first on CaptainAltcoin.

2025-6-3 23:30


XRP price prediction: Ripple to $5 soon, but this competitor will melt faces in 2025

Ripple’s XRP is finally shaking off years of legal limbo, with analysts predicting a bullish surge toward the $5 mark as institutional adoption gains traction and cross-border payment demand spikes. But while XRP preps for a long-awaited breakout, a new player, Mutuum Finance (MUTM), is gearing up to rewrite the altcoin playbook entirely.  Already in […]

2025-5-9 19:20


Ripple (XRP) price expected to hit $3 in coming days but traders look toward this XRP rival for greater gains

XRP from Ripple experienced a 7% value increase in the last 24 hours, which created new positive market feelings because experts predict it will reach $3.40. Technological indicators show a crucial market inflection point because the token’s 4-hour resistance barrier has failed and the appearance of a Golden Cross pattern on the Relative Strength Index […]

2025-3-9 08:45