XRP Sees Strong August Performance and Surging On-Chain Metrics Amid Escrow Releases
Ripple executed its monthly escrow release on September 1, releasing 1 billion XRP tokens valued at approximately $1.38 billion. This left 31.28 billion tokens still locked.
August saw a significant surge in XRP's performance, with prices climbing 28.5% to reach $1.70 before stabilizing around $1.42. This marked the token's strongest August performance since 2021, driven by institutional capital rather than retail speculation.
The XRP Ledger experienced a massive increase in payment volume during late August, with a 521% surge in transactions primarily from large-scale institutional transactions. Additionally, Ripple's stablecoin RLUSD surpassed $2.32 billion in market capitalization, establishing itself as the leading stablecoin on the XRPL ecosystem.