200 million XRP, equivalent to around $76 million, have been released from escrow. According to Whale Alert, the transaction occurred on September 22, 2023, and the XRP was sent from an unknown address to another unknown address. The purpose of the XRP escrow is to gradually release XRP into the market over a period of time. This is done to prevent the market from being flooded with XRP and to help stabilize the price. The escrow was created when Ripple, the company behind XRP, conducted its initial coin offering (ICO) in 2013. The 200 million XRP that were released from escrow represent a small portion of the total escrow. Ripple currently holds 55 billion XRP in escrow, which is scheduled to be released over the next several years.

#XRP