Beware: Ripple to unlock 1 billion XRP tokens for July sell-offs
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 ...