Ripple Unlocks 1 Billion XRP Tokens Amid Renewed Bullish Momentum
Ripple has just unlocked 1 billion XRP tokens as part of its regular monthly escrow release. According to blockchain transaction tracker Whale Alert, three transactions released 500 million, 400 million, and 100 million XRP from Ripple-controlled escrow accounts on September 1.
This unlock is in line with Ripple's established escrow mechanism, under which up to 1 billion XRP can become available at the start of each month. The company originally placed 55 billion XRP into escrow in 2017 and said unused XRP would be returned to escrow for future releases.
As of August 31, about 32.28 billion XRP remained locked in Ripple's on-ledger escrow, according to an on-chain tracker that calculates the balance directly from active XRPL escrow objects. After the September 1 unlock, this leaves approximately 31.28 billion XRP in Ripple's existing escrow balance.
It is essential to understand that an escrow unlock does not mean Ripple has sold 1 billion XRP. Historically, the company has re-escrowed the portion of each monthly release. The amount of tokens that actually enter the broader market can be substantially smaller than the headline 1 billion XRP figure.
XRP's current price performance is worth mentioning, as it shows signs of renewed bullish momentum. The cryptocurrency is trading at around $1.39 and gaining roughly 1.7% over the past 24 hours. XRP has climbed approximately 30.8% over the past 30 days and 14.5% over the last 90 days.