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Ripple Unlocks 1 Billion XRP Coins from Escrow in Monthly Distribution Strategy

Ripple Labs has released 1 billion XRP coins from its escrow account in three transactions. This is part of Ripple's monthly XRP distribution strategy, which aims to maintain the stability of the asset's price. The newly released XRP coins did not have a negative impact on the price of the cryptocurrency, which is currently trading at $0.508. Ripple's On-Demand Liquidity (ODL) clients will benefit from the release, as they use XRP as a bridge currency for cross-border settlements. Meanwhile, Ripple is still in a legal battle with the United States Securities and Exchange Commission, with a summary judgment decision expected on June 14.

XRP XRP $1.36
-7.78%
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