XRP cost growth remains lackluster as February begins, despite blockchain payment network Ripple releasing 500 million tokens from its escrow.

Data from the XRP blockchain noted by monitoring resources Whale Alarm on Feb. ane confirmed a single transaction of 500,000,000 tokens worth $119.v million left Ripple'southward escrow the same day.

XRP "rewards" bagholders with 26% returns

The motion is the latest in a series of planned releases, which Ripple has scheduled to occur on the commencement of each month for 55 months.

Its aim is to provide incentives for market makers, with Ripple notwithstanding remaining in control of the newly-released tokens.

During the previous release in Jan, XRP/USD barely reacted. Later on, bullish action on Bitcoin (BTC) markets took many major altcoins significantly higher.

While Litecoin (LTC) for example sealed 65% gains in January, XRP investors accept been left with niggling more than a sense of anticipation. Versus its January lows, the token is upwardly by a comparatively modest 26%.

XRP 1-month price chart

XRP 1-calendar month price chart. Source: Coin360

Suspicions, sell-offs and an IPO

As 2022 began, Ripple was again at the centre of controversy over its human relationship with XRP.

The company owns more than of the token than whatsoever other party. In a recent interview, CEO Brad Garlinghouse claimed that executives could not control the XRP supply, while also stating it would take action to finish other entities from acquiring as well much of it.

"We don't desire another party buying a whole lot of XRP and dumping it on the market place," he said.

Ripple's XRP sell-offs for 2022 meanwhile totaled more than any other year. Around the aforementioned time, Garlinghouse hinted Ripple could conduct an initial public offering, or IPO, at some indicate in the adjacent twelve months.