XRP News Today: Ripple Releases $2.2 Billion XRP Amid Rumor Debunking

Ripple recently released one billion XRP from escrow in early June as part of a routine governance smart-contract distribution. This action was part of a scheduled release and was not related to any specific event or rumor. The release was divided over three transactions valued at roughly $2.2 billion. This routine release was misinterpreted by some as a sign that the U.S. government might seize XRP held in Ripple’s escrow account as part of a broader digital-asset reserve strategy. However, Ripple lawyer Bill Morgan dismissed these claims, stating that no such plan exists and that the escrow releases are governed by smart-contract schedules created by Ripple years ago.

Morgan also addressed rumors linking XRP to the Federal Reserve’s FedNow payment network. Social-media posts suggested that XRP might be used in FedNow transactions, but Morgan clarified that while Volante Technologies, the FedNow pilot partner, uses Ripple’s technology for cross-border messaging, there is no evidence that the Fed actually moves funds in XRP. Morgan emphasized that government bodies follow strict legal frameworks when handling assets and cannot simply reach into a private firm’s escrow account.

Despite the debunking of these rumors, the speculation around XRP continues to build. Some crypto-focused commentators have compared the possibility of a U.S. crypto reserve to the rise of Bitcoin ETFs, suggesting that a once-unlikely event could occur again. However, Morgan’s statements provide clarity that such actions are not imminent and are subject to legal and regulatory frameworks.

Ripple’s partnerships in cross-border settlements and central bank digital currency (CBDC) infrastructure continue to expand. Ripple Labs has reaffirmed collaborations with several Asia-Pacific central banks for launching tokenized remittance systems using the XRPL (XRP Ledger). These partnerships highlight Ripple’s ongoing efforts to integrate its technology into global financial systems, further solidifying its role in the digital asset ecosystem.