Ripple Unleashes 1 Billion XRP Tokens Amid Ongoing Price Volatility

Ripple recently released 1 billion XRP tokens as part of its monthly escrow mechanism. The company has been using this system since 2017, when it placed 55 billion XRP into escrow.

According to an on-chain tracker, approximately 32.28 billion XRP remained locked in Ripple's on-ledger escrow on August 31. After the September 1 unlock, that leaves around 31.28 billion XRP in Ripple's existing escrow balance.

This means roughly 31.28% of XRP's fixed 100 billion maximum supply would remain locked in Ripple's escrow following the release. It is worth noting that an escrow unlock does not mean Ripple has sold 1 billion XRP, as it has historically re-escrowed the portion of each monthly release.

XRP is currently trading at around $1.39 and gaining roughly 1.7% over the past 24 hours. However, more than $2.3 million worth of XRP positions have been liquidated over the past 24 hours.