Ripple unlocked 1 billion XRP held in escrow accounts at the start of October. The transaction, worth approximately $1.49 billion, was carried out in four separate transfers. According to on-
Ripple unlocked 1 billion XRP held in escrow accounts at the start of October. The transaction, worth approximately $1.49 billion, was carried out in four separate transfers. According to on-chain data, the unlocked amounts were recorded as 400 million, 300 million, 200 million, and 100 million XRP.
This process is part of Ripple’s monthly escrow system, designed to manage the XRP supply in a predictable manner. It doesn’t mean all of the 1 billion XRP that was unlocked has been sent to exchanges or sold on the market. Ripple typically locks a significant portion of unused tokens back into escrow accounts.
The actual supply pressure that may occur on XRP will depend on the net amount released after Ripple relocks its tokens.
In recent months, similar transactions have been closely monitored by the market, and it has been observed that the short-term price impact stems not only from the key opening but also from subsequent transfers to exchanges.
Following this development, the price of XRP saw a 2% drop today.
*This is not investment advice.
Continue Reading: A Move from Ripple That Matters to XRP Investors: $1.49 Billion Unlocked
