Based

2024

April

Billion

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Ripple, the San Francisco-based crypto payment provider, has released another one billion XRP tokens from its escrow accounts, according to a&nbsp;<a href="https://x.com/whale_alert/status/1840948204960911829?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1840948204960911829%7Ctwgr%5Ead73310e61a6884744f1b796768cff3fc1fa150c%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Furl%3Dhttps%3A%2F%2Ftwitter.com%2Fwhale_alert%2Fstatus%2F1840948204960911829">Whale Alert</a> report. As usual, Ripple released the XRP tokens on Oct. 1, which is its standard practice for the first day of each month.
The release of the one billion tokens was done in three separate transactions. The first one released 500 million XRP tokens, worth about $310.65 million, from Ripple's escrow holdings.&nbsp;
Next, another 400 million&nbsp;<a href="https://u.today/ripple-breaks-silence-on-rlusd-stablecoin-launch-with-major-warning">XRP</a>, with an estimated value of $248.89 million, were released. The last transaction saw the last hundred million tokens, valued at $62.25 million, released from escrow.
<blockquote>
 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 500,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (310,649,274 USD) unlocked from escrow at unknown wallet<a href="https://t.co/Qdm8DGK2ef">https://t.co/Qdm8DGK2ef</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1840948204960911829?ref_src=twsrc%5Etfw">October 1, 2024</a>
</blockquote> 
<a href="https://u.today/sec-has-just-days-to-appeal-ripple-ruling">Ripple</a> rolled out its escrow system at the end of 2017, with the goal of stabilizing the XRP market. The company set aside 55 billion XRP in a series of escrows, each with one billion XRP, to be released gradually over the same number of months. Based on the current plan, the last portion of the release is expected to happen in April 2027.
<h2 dir="ltr" id="xrp-price-outlook">XRP price outlook</h2>
In response to this, the price of the&nbsp;<a href="https://u.today/xrp-rockets-800-in-fund-flows-as-xrp-price-goes-parabolic">XRP token</a> shot up by about 3% in just a couple of hours. As a result, the price bounced back above a crucial dynamic resistance level that stretches from 2022.
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="2a48d447-e07b-4c97-bfb4-80a46ed4f05a" src="https://u.today/sites/default/files/inline-images/xpr_0.png">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/">CoinMarketCap</a>
In a surprising turn of events, the week before the unlocking saw the best performance for XRP in the last few months, with a surge of 9.21% at one point. Currently, XRP is trading at around $0.6274 per token, marking its highest price since the end of July.

1 Billion XRP Unlocked by Ripple, XRP Price Reacts With 3% Growth

Table of Contents

U_Today

Other articles published on Oct 1, 2024

SUI Holds Ground Despite $108 Million Token Unlock: New ATH Soon?

How to Pick the Best Crypto Staking Platform: Top 5 for 2024

Experts Are Eyeing These Tokens for 200x Gains in Q4

RLUSD Launch Set for Ethereum as XRP Ledger Faces Delays

Reef Coin and Dogwifhat Price Predictions: Bitgert’s Major News Could Cause Market Movements

Top 3 Altcoins Surge: BONK, Fantom and Sui Lead the Crypto Rally

Join our free newsletter for daily crypto updates!