The growth of XRP price is still dull as this month starts, in spite of the release of 500 million tokens from Ripple’s escrow.

On February 1, Whale Alert highlighted data from XRP blockchain thereby confirming one transaction of 500 million tokens valued at $119.5 million leaving Ripple’s escrow the same day.

Such a move is the recent as part of Ripple’s planned releases, planned to on the first day of every month for 55 months. It is to offer incentives for market makers whereas the firm remains in charge of the tokens that have just been released.

XRP against the USD pair put up little reaction during the release in January. After that, Bitcoin’s upsurge led to significant upsides for many leading altcoins. LTC recorded 65 percent gains in January but XRP investors were full of expectations. As compared with the token’s low last month, it is up by 26 percent.

In the beginning of this year, the relationship between Ripple and XRP was again controversial. Ripple holds more of XRP than anyone. Recently, the CEO of the firm, Brad Garlinghouse, said in an interview that executives are unable to control the token’s supply and action is required to restrict other entities from too much acquisition.

Garlinghouse said the firm was not interested in much purchase of the token by some other party to dump it on the market.

However, the total sell-off by the firm last year supersedes that of other years. It was at the time that the CEO noted the possibility of conducting an initial public offering (IPO) within a year.

Featured image courtesy of Shutterstock.