Ripple, the leading payment company based in San Francisco, has unlocked 1 billion XRP from escrow as part of its regular monthly process.

1 Billion XRP Released Through Three Transactions

This morning, 1 billion XRP worth approximately $621.78 million was unlocked in three separate transactions. Data from #WhaleAlert showed that the first release of 500 million XRP (worth around $310.64 million) occurred at 02:53 UTC. Six minutes later, a second release of 400 million XRP (worth around $248.88 million) followed. The final transaction unlocked 100 million XRP (worth approximately $62.24 million) at 03:00 UTC.

800 Million XRP Expected to Be Re-locked in Escrow

Following this routine operation, #Ripple💰 is expected to re-lock 800 million #Xrp🔥🔥 back into escrow, as is typical for the company. Ripple traditionally locks 80% of the unlocked funds, while the remaining 200 million $XRP is available for various business purposes.

In the past, Ripple has similarly unlocked 1 billion XRP, re-locking 80% while the remaining 200 million XRP may have been used for operational development or sales.

Speculation Surrounding SEC Payment

An interesting detail is that these transactions coincide with Ripple's $125 million #Payment the U.S. Securities and Exchange Commission ( #SEC ), following violations of federal securities laws. This has led to speculation that Ripple might use part of the released 200 million XRP to cover this fine.

XRP Price Drops by 4.26% in 24 Hours

Currently, the price of XRP has dropped by 4.26%, trading around $0.6203 in the last 24 hours. Despite this, XRP has shown a 5.26% increase over the past seven days and a 11.09% increase over the last month.

This price drop is likely due to broader market corrections rather than being directly caused by the release of XRP from escrow.



Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“