Ripple may be preparing to unlock one billion XRP this month, according to data revealed by XRPscan. This article discusses the current circumstances and their market impact.
Unlocking XRP Data
According to data from XRPscan, Ripple might be set to unlock a regular one billion XRP this month, given that no habitual unlocks took place on August 1-2. Currently, over 36 billion XRP tokens are held in Ripple’s escrow.
Current Cryptocurrency Trends
As of now, Ripple’s escrow holds 36.6 billion XRP. It was previously reported that 700 million XRP were locked at the beginning of the month, with no releases over the weekend. Three batches of 500 million XRP and two batches of 100 million XRP were moved to escrow last Friday.
XRP Status Over the Week
This week, XRP has shown a decline of 4.5%. Over the past 24 hours, the third-largest cryptocurrency on the market has fallen more than 4%, dropping from $3.08 to $2.94. This decline followed an over 11% price increase since Sunday, mirroring Bitcoin’s price trajectory.
The likelihood of unlocking one billion XRP this month remains high. If this occurs, it would mark the first time that no XRP was unlocked from Ripple’s escrows.
