Ripple Escrow Activity Does Not Explain XRP Price Movements, Says Crypto Lawyer

Ripple's XRP escrow mechanism has completed another monthly cycle, releasing 1 billion tokens through three transactions of 500 million, 400 million, and 100 million XRP. The event has historically sparked claims that Ripple's token distributions suppress the XRP price.

Crypto lawyer Bill Morgan argues that the latest price action provides further evidence to question this theory. With the broader crypto market under pressure, XRP fell roughly 2-3% over the past day, trading around $1.34.

On-chain reporting indicates that 700 million XRP was placed back into new escrow contracts through a 500 million and a 200 million XRP transaction. The remaining 300 million XRP was transferred to a Ripple-controlled wallet, not immediately sold on the market.