Bitcoin News Today TheBitTimes.com

Ripple, the company behind the XRP Ledger (XRP) development, will unlock 1 billion tokens on July 1, worth $470 million. This is part of Ripple’s monthly sell-offs, which could negatively impact the XRP price in the following weeks. Historically, Ripple has been unlocking 1 billion tokens through escrows, finalized on the first day of every month, since 2017. According to XRPScan , the company has been using ‘Ripple (24)‘ and ‘Ripple (25)‘to manage the escrows since May 2024. The wallets currently hold the 1 billion XRP monthly unlock escrows until January 2025. In particular, Ripple (24) will unlock 500 million XRP in two escrows of 100 million and 400 million tokens , while Ripple (25) will unlock a single escrow of 500 million tokens on July 1. Picks for you Buy signal for two strong cryptocurrencies this week ...

Ripple has around 39.9 billion XRP, currently locked in escrows and not part of the token’s circulating supply. On February 1, Ripple unlocked 1 billion XRP, valued at $500 million, keeping 20% of the total. Each month, Ripple unlocks another 1 billion tokens. The company often retains only a fraction of it for its treasury, frequently selling the rest on the market. Finbold has tracked these unlocks, identifying patterns that affect the asset’s long-term value. In February, Ripple held back 200 million XRP, consistent with prior months. This amount is now worth roughly $100 million, with each token priced at $0.50 by press time. In particular, the company prepared this month’s selling activity by sending the 200 million XRP from ‘Ripple (22)’ to ‘Ripple (1)’. The institution controls both accounts, with the former being the unlocked escrow address and the latter used as its liquid treasury. Ripple (1) account summary. Source: XRP Scan Ripple’s XRP escrow activity for February...