Ripple Re-Locks $952 Million in XRP Back into Escrow

Ripple has re-locked 700 million XRP into escrow after releasing 1 billion tokens through its scheduled monthly process. The company released 500 million and 200 million XRP earlier, valued at $680.2 million and $272 million respectively.

The two re-locked batches were worth about $952 million combined, based on transaction values reported by Whale Alert. This move has followed the broader crypto market's renewed selling pressure, causing the XRP price to fall by 3% to $1.34.

Ripple uses its escrow system to manage scheduled XRP releases for several years. Unused portions of monthly releases can be placed into new escrow contracts with later release dates.