$XRP Stuck Near $1.50 as Ripple's 1B Token Unlock Tests Resistance
Ripple's recent unlock of 1 billion XRP tokens has sparked interest in the cryptocurrency market, but it remains to be seen if this will break through the $1.54 resistance level.
The tokens were released from escrow contracts shortly after midnight UTC on October 1, with four transactions involving 400 million, 300 million, 200 million, and 100 million XRP.
While the release does not necessarily mean all 1 billion tokens are being sold, it creates another supply event for traders to monitor. Institutional demand has continued through US spot XRP exchange-traded funds, with inflows reaching $121.4 million in September and cumulative inflows since launch at around $1.79 billion.
$XRP Ledger developers are also advancing native lending infrastructure, with the LendingProtocolV1_1 amendment currently in validator voting. This could potentially add new functionality to the network, but it does not guarantee additional demand for XRP.