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Ripple Escrow Unlocked; XRP Price To Take A Hit?

Ripple Labs and its native crypto, XRP holders are eagerly waiting for a Summary Judgement in the lawsuit launched by the U.S. Securities and Exchange Commission (SEC). However, as the judgment day closes in, Ripple has released more XRP into the market circulation.

According to the Data, Ripple unblocked $1 billion XRP (approx worth $470 million) in two separate transactions. The latest escrow release implies that 52% of the total XRP has now come into circulation. In order to provide additional predictability about its supply, Ripple locked 55 billion XRP, that actually 55% of the total supply, in a escrow.

Ripple’s Q1 report 2023 mentioned that 3 billion XRP were released as per the procedure. However, it added that 2.1 billion XRP were returned and were added into new escrow in the same time period. Data depicts that XRP price have jumped by almost 18% in the last 90 days.

(By Ashish Kumar)

XRP XRP $0.51
-2.29%
Ripple XRP
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