Million

Billion

Ripple, the prominent blockchain company behind XRP, has executed the monthly release of 1 billion XRP tokens, as reported by Whale Alert (@whale_alert), a renowned crypto wallet tracking service on X. 
Ripple unlocked these tokens in three transactions. The <a href="https://x.com/whale_alert/status/1830074720378650676?t=TZXK_zrtx6gSo1LKQirZCA&amp;s=19" rel="nofollow">first</a> was the release of 500 million XRP ($280 million). This transaction was followed by a <a href="https://x.com/whale_alert/status/1830075280251056583?t=ERohucgNRglQYv_JCWAs7g&amp;s=19" rel="nofollow">release</a> of 200 million XRP ($111.986 million) and the final <a href="https://x.com/whale_alert/status/1830075638612480479?t=VueAbO4qinLpRrMpBj4SvA&amp;s=19" rel="nofollow">release</a> of 300 million XRP ($167.915 million). 
<h2 id="strong-ripple-s-escrow-release-history-strong">Ripple’s Escrow Release History</h2> 
In 2017, Ripple locked 55 billion XRP tokens into multiple escrow wallets. The plan entailed a systematic monthly release of 1 billion XRP aimed at ensuring a more predictable supply of the cryptocurrency. 
However, earlier this year, Ripple faced significant hurdles with several failed escrow transactions in the initial months of 2024. In the first few months of the year, Ripple’s escrow <a href="https://timestabloid.com/ripple-makes-unusual-release-of-millions-of-xrp-from-escrow/">transactions failed</a>, and the company had to make up the 1 billion XRP amount later in those months. 
Following these challenges, Ripple has re-established a consistent pattern, with monthly escrow transactions proceeding smoothly. 
<h2 id="strong-evaluating-the-escrow-strategy-strong">Evaluating the Escrow Strategy</h2> 
In January, Schwartz mentioned that the company’s original objective was to <a href="https://timestabloid.com/what-would-ripple-do-with-40b-xrp-in-escrow-david-schwartz-states-two-choices/">decrease its XRP holdings</a>. Despite this intention, Ripple adopted an alternative approach. Schwartz remains uncertain about the efficacy of the escrow strategy, acknowledging his initial opposition to its creation and his continued uncertainty. 
The idea of burning escrowed tokens has been floating around the market lately, with some seeing this as a solution to XRP’s low price. Schwartz noted that <a href="https://timestabloid.com/ripple-cto-states-how-ripple-can-simply-burn-40-7-billion-xrp-in-escrow/">blackholing the account</a> into which the escrow completes could achieve a similar outcome to burning, effectively preventing any XRP from entering circulation. 
This strategy of releasing tokens from escrow has sparked considerable debate within the cryptocurrency community. While it introduces predictability into the market, it also raises questions about the long-term impact on XRP’s value and distribution. 
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<h2 id="strong-ripple-locks-800-million-xrp-strong">Ripple Locks 800 Million XRP</h2> 
At press time, Ripple had locked up 800 million XRP, as it does after the escrow releases every month. The first <a href="https://x.com/whale_alert/status/1830300879221629293?t=-u3ehciGA5jtYiCqx9cNqg&amp;s=19" rel="nofollow">transaction</a> was 400 million XRP, worth $221.419 million, and the second <a href="https://x.com/whale_alert/status/1830301288170487817?t=D0aLD1-nQfog-1DT64droQ&amp;s=19" rel="nofollow">transaction</a> was also 400 million XRP, but worth $221.294 due to XRP’s fluctuating price. 
At the time of press, XRP is trading at $0.5606, down 1.26% over the past 24 hours. The escrow transactions have not had any major effects on its trajectory at press time. 
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The post <a href="https://timestabloid.com/1-billion-xrp-unlocked/">1 Billion XRP Unlocked</a> appeared first on <a href="https://timestabloid.com">Times Tabloid</a>.

1 Billion XRP Unlocked

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