Ripple Releases One Billion XRP, Price Remains Stable at $1.49

Ripple released one billion XRP from its escrow accounts on October 1, but the price barely reacted. The tokens were spread across four transfers of 400 million, 300 million, 200 million, and 100 million XRP. This monthly release is part of a series that has been ongoing since 2017.

The escrow accounts are trust accounts on the XRP Ledger where Ripple stores its tokens. At the start of each month, some of these tokens expire, and Ripple can dispose of them as it sees fit. However, in recent years, most of this monthly release has been returned to new trust accounts, reducing supply pressure.

The return of these released tokens into escrow is a crucial aspect of understanding XRP's circulating supply. The figures for circulating supply differ depending on the source due to variations in how data providers define and calculate it. This discrepancy affects market capitalization and any metric built on circulating supply, resulting in uncertainty of several percent.

Despite the release, XRP's price remains relatively stable at $1.49. Analysts point to two key levels: $1.50 as a threshold and $1.70 as resistance. The forecast ranges from data services diverge, but most predict a range of around $1.25 to $1.70 for October.

On the demand side, US spot ETFs hold approximately 1.18 billion XRP, with inflows reaching $121.4 million in September. However, despite these inflows, fund assets under management fell due to valuation decreases.