Ripple, an enterprise blockchain company, unlocked 1 billion XRP tokens at the start of the current month, bringing clarity to the market.
Unusual Unlocking Pattern
This time, Ripple again locked 700 million XRP tokens, breaking its usual monthly unlocking rhythm. The total unlocked tokens are currently valued at $1.933 billion.
Movement of XRP Tokens
Today, Whale Alert reported the transfer of 500 million XRP tokens from an unknown wallet to Ripple in two transactions. Previously, Ripple's escrow mechanism always followed the same pattern: a billion tokens would be unlocked from wallets on the first day of the month, after which most tokens would be relocated while some would remain in circulation.
XRP Prices After Unlocking
Currently, the XRP token is trading at $2.77, showing a decline of 1.4% over the past 24 hours. Ripple's latest actions have brought an element of normalcy to the situation after a confusing unlocking scheme in recent months.
Thus, Ripple's unlocking of XRP tokens and subsequent movements highlight the dynamic nature of the market and the volatility of prices for this asset.
