XRP's going down Don't BUY yet!
On the first day of every month, Ripple unlocks 1 billion XRP tokens from an escrow system of the XRP Ledger. On January 1 (Monday), the company will unlock $620 million worth of tokens in three transactions of 100 million, 400 million, and 500 million XRP.
Interestingly, January 2024’s unlock accrues for 1.84% of the current 53.56 billion circulating supply and 2.17% of the remaining 45.87 billion XRP tokens under Ripple’s control. The latter are still locked in escrows to be released monthly until May 2027.
Three escrows will reach finality in the last minutes of 2023, held by two known crypto wallet addresses owned by Ripple. In particular, ‘Ripple (22)’ will unlock 500 million XRP, previously locked in November 2019.
Ripple 22 assets – escrows. Source: XRP Scan
Further, ‘Ripple (23)’ will unlock 100 million and 400 million tokens, locked in December and November 2019, respectively. These two addresses still hold 2 billion XRP tokens for monthly escrows that will be unlocked within the next two months until March 1, 2024.
Ripple 23 assets – escrows. Source: XRP Scan
This is what Ripple did to the 1 billion XRP released in December
SOURCE: Finbold.com "Ripple will unlock 1 billion XRP on January 1 – What to expect?"
Be wary of the events to come next year. Best to do your research before buying. Personally I think buy price best at 0.6180-0.6220