- XRP locked and then unlocked 1 billion XRP tokens from escrow on the XRP Ledger.
- The firm stated earlier that it would release 1 billion XRP every month for 55 months.
- The 1 billion XRP tokens are worth $477 million, as the token is valued at $0.4781.
Ripple Labs, the blockchain payments company behind XRP, has released 1 billion tokens from escrow, triggering a wave of speculation and debate among investors. The move, part of Ripple’s ongoing strategy to manage XRP’s circulating supply, has drawn both criticism and support from the crypto community, with some accusing the company of market manipulation while others defending its transparency.
Whale Alert tracked the transfer of 200 million XRP, followed by 300 million XRP, and finally 500 million XRP from an unidentified wallet to Ripple. These tokens were then placed into escrow in line with Ripple’s strategy, which involves locking 55% of the total possible supply of XRP (55 billion XRP tokens) into a series of escrows.
The unlocking process commenced four hours earlier, with Ripple releasing 500 million XRP, followed by 100 million XRP, and then 400 million XRP. This massive movement of XRP elicited mixed reactions from the crypto community. Some users on X accused Ripple of manipulating the market, while others defended the company’s actions as part of a transparent supply management strategy.
It was explained well in advance through a blog post, how Ripple planned a monthly release of 1 billion XRP for the next 55 months. This initiative aimed to establish a predictable cap on the amount of new XRP entering circulation. The actual amount released each month will likely be less than 1 billion, with remaining tokens placed into a new escrow.
Some community members on X have countered claims of market manipulation, explaining that if Ripple were dumping XRP on retail investors, the supply would grow by 1 billion each month. Instead, Ripple is selling a portion and re-escrowing the rest to maintain a controlled supply.The 1 billion XRP tokens released are currently valued at $477 million, with XRP trading at $0.4781, up 0.5% in the past 24 hours, according to CoinMarketCap data. Trading volume has also surged by over 50%.
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