Ripple Locks 700M XRP in Escrow as Part of Monthly Redistribution

Ripple's regular escrow wallet redistribution for October has completed, with the company locking up 700 million XRP worth over $1.4 billion back to escrow.

This move is part of Ripple's monthly routine of releasing and relocking a fixed amount of XRP from its escrow wallet, which it first unlocked just a few hours prior on October 1.

The recent redistribution has sparked speculation about its potential impact on XRP's price performance in the new month, but so far, the asset remains muted with a modest price decline of around 2.5% over the last day.