With Ripple recently performing well on the charts, concerns have emerged over the upcoming 1 billion XRP unlock happening every month to fund its operations. On January 1st, 2025, the first token unlock event will take place. The XRP community is curious about how the token’s price will react.
XRP Token Unlock
Ripple holds 55 billion XRP tokens locked in an escrow account, nearly 55% of the total XRP supply. A 1 billion supply is unlocked on the first of each month to provide liquidity to exchanges and partners, not directly impacting the market.
Market and Analysis
The December unlock, one of Ripple’s largest XRP sell-offs, did not impact the price which remained around $1.8, even rising the following day due to several bullish factors, including RLUSD stablecoin launch. On January 1, 2024, Ripple will unlock 1 billion XRP, approximately 1.75% of the total circulating supply.
XRP Dominance Potential
Prominent analyst Ali Martinez shared that whales bought 60 million XRP in the last 48 hours. XRP is currently trading at $2.18, down 4% in the past 24 hours. Analyst Egrag Crypto noted that with BTC Dominance decreasing and ETH Dominance rising, XRP has the potential to outperform both.
Despite potential changes caused by XRP unlocks, analysts continue to monitor the cryptocurrency market developments, assessing possible impacts on token price and future dominance.
