According to ChainCatcher, nearly $1.5 billion worth of cryptocurrencies will be unlocked in August, of which 1 billion XRP (worth $609 million at current prices) to be unlocked on August 1st accounts for a large portion of the total unlocked.

Ripple has unlocked 1 billion XRP on the first day of every month since 2017. It uses two major wallets, Ripple (24) and Ripple (25), to evenly distribute the unlocked tokens every month.