Ripple Escrow Unlocks 1B XRP, Coinciding with XRP’s 10% Price Rally

TLDR

• Ripple escrow unlocked a total of 1 billion XRP tokens for December in two separate transactions.
• The first 500 million XRP tokens were transferred to the Ripple (9) address at 21:00 UTC.
• The second batch of 500 million XRP tokens was sent to the Ripple (28) address at 21:11 UTC.
• Ripple returned 700 million XRP back to escrow on December 1, reducing the amount released into circulation.
• XRP’s price surged by 10% within 24 hours, reaching $2.20 after the escrow unlock.

The Ripple escrow system has unlocked 1 billion XRP tokens for December, triggering a 10% price surge. The release happened in two separate transactions, each for 500 million XRP. These tokens were moved into Ripple’s various addresses.

Ripple Escrow Releases 500M XRP to Ripple (9) Address

At 21:00 (UTC) on Tuesday, Ripple unlocked the first 500 million XRP tokens. The tokens were sent to the Ripple (9) address, which currently holds 500,000,204 XRP. This transaction was valued at $1.08 billion.

Just 11 minutes later, Ripple unlocked another 500 million XRP tokens. The second batch was directed to the Ripple (28) address, “rMhkqz.” This release finalized the total 1 billion XRP scheduled for December.

Earlier in December, Ripple moved 1 billion XRP from the escrow account. However, 700 million of the tokens were promptly returned to escrow. The Ripple (15) address locked up 300 million tokens, while Ripple (14) returned 400 million tokens.

This process ensures that only a small portion of the unlocked tokens enters circulation. Ripple uses these released tokens for its operations, leaving unused amounts in escrow to manage XRP’s supply. The company also returned 700 million XRP back to the escrow on December 1.

XRP Price Surge Linked to Ripple Escrow Unlock

The timing of the Ripple escrow unlock coincided with a price rally for XRP. In the past 24 hours, XRP price surged nearly 10%, reaching $2.20. The rally was part of a broader market recovery led by Bitcoin’s recent 8% increase.

The US Federal Reserve announced the end of its quantitative tightening policy. This action injected $13.5 billion into the banking system, which analysts see as beneficial for cryptocurrencies.

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