Ripple Locks 700 Million $XRP Back in Escrow After October Unlock
Ripple has locked 700 million XRP, worth more than $1.4 billion, back into escrow on October 1, shortly after releasing 1 billion XRP as part of its monthly scheduled unlock.
The 700 million XRP was locked through two transactions of 400 million and 300 million XRP. The remaining 300 million XRP from the October release was not returned to escrow.
Ripple established the escrow system in 2017 to make XRP’s supply schedule more predictable. The company initially placed 55 billion XRP into escrow, with up to 1 billion XRP becoming available each month. Unused tokens can be locked back for future releases.
Following the latest transactions, approximately 31.85 billion XRP remained in escrow, according to XRPScan data cited by U.Today.
Despite the large amount being returned to escrow, XRP showed little immediate positive reaction and was down roughly 2.5% over 24 hours around the time of the report.
Ripple has locked 700 million XRP, worth more than $1.4 billion, back into escrow on October 1, shortly after releasing 1 billion XRP as part of its monthly scheduled unlock.
The 700 million XRP was locked through two transactions of 400 million and 300 million XRP. The remaining 300 million XRP from the October release was not returned to escrow.
Ripple established the escrow system in 2017 to make XRP’s supply schedule more predictable. The company initially placed 55 billion XRP into escrow, with up to 1 billion XRP becoming available each month. Unused tokens can be locked back for future releases.
Following the latest transactions, approximately 31.85 billion XRP remained in escrow, according to XRPScan data cited by U.Today.
Despite the large amount being returned to escrow, XRP showed little immediate positive reaction and was down roughly 2.5% over 24 hours around the time of the report.