{"id":558627,"date":"2023-11-01T18:00:03","date_gmt":"2023-11-01T18:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=558627"},"modified":"2024-06-11T10:42:29","modified_gmt":"2024-06-11T10:42:29","slug":"xrp-price-rally-threatened-as-ripple-unlocks-1-billion-tokens","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-rally-threatened-as-ripple-unlocks-1-billion-tokens\/","title":{"rendered":"XRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens"},"content":{"rendered":"

The <\/span>XRP price<\/span><\/a> rallied as recent reports<\/a> from leading on-chain crypto tracker Whale Alert have revealed that Ripple Labs, the blockchain-based payment firm, has unlocked another 1 billion XRP as part of its monthly token unlock program.<\/span><\/p>\n

Origin Of Ripple Customary 1 Billion XRP Routine<\/span><\/h2>\n

Today, the firm has unlocked yet another 1 billion tokens, performed in three separate transactions. Crypto tracker Whale Alert took to X (formerly Twitter) to share the alert with the crypto community, as each whale transaction was made one after the other.<\/span><\/p>\n

Related Reading: Ripples Returns 80% Of Unlocked XRP For August Back To Escrow<\/a><\/p>\n

According to data from Whale Alert, the first transaction performed with the escrow account unlatched a significant <\/span>100 million XRP<\/span><\/a> tokens, valued at approximately $59.98 million.<\/span><\/p>\n

The second transaction made by the escrow account was <\/span>400 million XRP<\/span><\/a>, valued at around $239.92 million. Meanwhile, the last transaction saw a total of <\/span>500 million XRP<\/span> valued at approximately $299.9 million, making it a whopping 1 billion XRP valued at around $599.8 million.<\/span><\/p>\n

The price of XRP temporarily dropped in reaction to this announcement, which saw the token falling by about 3% that same day. But this decline was soon overcome, and as of right now, the digital assets are trading at a slight discount of 0.8% to its closing price from the previous day, according to CoinmarketCap.<\/span><\/p>\n

However, it is noteworthy that <\/span>XRP<\/span><\/a> had a strong day before the day before the unlocking, rising as high as 10.5% at one point and finishing the day with a 3.74% price increase. Currently, it is roughly trading at $0.6, presenting its highest price since August.<\/span><\/p>\n

Related Reading: XRP Whale Transactions Spike To 3-Month High As Smart Money Buys<\/a><\/p>\n

\"XRP\"
XRP daily trading at $0.60 | Source: Tradingview.com<\/a><\/figcaption><\/figure>\n

So far, the company has yet to announce its initial plan for the recently released 1 billion XRP. In light of last\u2019s month 1 billion XRP release, Ripple immediately removed 800 million (80%)<\/a> of the total XRP tokens unlocked.<\/span><\/p>\n

Notably, the crypto firm spent approximately 205 million tokens ($112.75 million) from its primary address, “Ripple 1,” in October, even though it reserved about 200 million XRP. Due to this, Ripple used about five million XRP in its balance from earlier this month.<\/span><\/p>\n

Recent Partnership Set To Boost XRP<\/span><\/h2>\n

The company’s recent partnership with the web3 platform is expected to elevate the XRP holdings on Uphold, thereby boosting the token’s price. This is because Uphold has <\/span>asserted<\/span><\/a> that it will utilize its expertise to buttress XRP on the market while leaving its current customers’ XRP holdings untouched.\u00a0<\/span><\/p>\n

In addition, the platform will also give Ripple the liquidity it needs to handle cross-border transactions. <\/span>Ripple’s partnership with Uphold<\/span><\/a> indicates increased interest from the web3 financial platform in the XRPL ecosystem and its utility token XRP, which powers transactions on Ripple Payments<\/a>.\u00a0<\/span><\/p>\n

Featured image from Ripple, chart by Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The XRP price rallied as recent reports from leading on-chain crypto tracker Whale Alert have revealed that Ripple Labs, the blockchain-based payment firm, has unlocked another 1 billion XRP as part of its monthly token unlock program. Origin Of Ripple Customary 1 Billion XRP Routine Today, the firm has unlocked yet another 1 billion tokens, performed in three separate transactions. Crypto tracker Whale Alert took to X (formerly Twitter) to share the alert with the crypto community, as each whale transaction was made one after the other. Related Reading: Ripples Returns 80% Of Unlocked XRP For August Back To Escrow According to data from Whale Alert, the first transaction performed with the escrow account unlatched a significant 100 million XRP tokens, valued at approximately $59.98 million. The second transaction made by the escrow account was 400 million XRP, valued at around $239.92 million. Meanwhile, the last transaction saw a total of 500 million XRP valued at approximately $299.9 million, making it a whopping 1 billion XRP valued at around $599.8 million. The price of XRP temporarily dropped in reaction to this announcement, which saw the token falling by about 3% that same day. But this decline was soon overcome, and as of right now, the digital assets are trading at a slight discount of 0.8% to its closing price from the previous day, according to CoinmarketCap. However, it is noteworthy that XRP had a strong day before the day before the unlocking, rising as high as 10.5% at one point and finishing the day with a 3.74% price increase. Currently, it is roughly trading at $0.6, presenting its highest price since August. Related Reading: XRP Whale Transactions Spike To 3-Month High As Smart Money Buys So far, the company has yet to announce its initial plan for the recently released 1 billion XRP. In light of last\u2019s month 1 billion XRP release, Ripple immediately removed 800 million (80%) of the total XRP tokens unlocked. Notably, the crypto firm spent approximately 205 million tokens ($112.75 million) from its primary address, “Ripple 1,” in October, even though it reserved about 200 million XRP. Due to this, Ripple used about five million XRP in its balance from earlier this month. Recent Partnership Set To Boost XRP The company’s recent partnership with the web3 platform is expected to elevate the XRP holdings on Uphold, thereby boosting the token’s price. This is because Uphold has asserted that it will utilize its expertise to buttress XRP on the market while leaving its current customers’ XRP holdings untouched.\u00a0 In addition, the platform will also give Ripple the liquidity it needs to handle cross-border transactions. Ripple’s partnership with Uphold indicates increased interest from the web3 financial platform in the XRPL ecosystem and its utility token XRP, which powers transactions on Ripple Payments.\u00a0 Featured image from Ripple, chart by Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":558406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,3685,4531,84758,88178,78763],"class_list":["post-558627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-labs","tag-xrp","tag-xrp-ledger","tag-xrpl","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens<\/title>\n<meta name=\"description\" content=\"The price of XRP rallies as Whale Alert revealed that Ripple Labs, the 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens","url":"http:\/\/wncen.com\/news\/ripple\/xrp-price-rally-threatened-as-ripple-unlocks-1-billion-tokens\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/xrp-price-rally-threatened-as-ripple-unlocks-1-billion-tokens\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small-1.jpeg?fit=320%2C213"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple labs","xrp","xrp ledger","xrpl","xrpusdt"],"dateCreated":"2023-11-01T18:00:03Z","datePublished":"2023-11-01T18:00:03Z","dateModified":"2024-06-11T10:42:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Rally Threatened As Ripple Unlocks 1 Billion Tokens\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-rally-threatened-as-ripple-unlocks-1-billion-tokens\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-rally-threatened-as-ripple-unlocks-1-billion-tokens\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_1306247059-Small-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_1306247059-Small-1.jpeg?fit=320%2C213\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple labs\",\"xrp\",\"xrp ledger\",\"xrpl\",\"xrpusdt\"],\"dateCreated\":\"2023-11-01T18:00:03Z\",\"datePublished\":\"2023-11-01T18:00:03Z\",\"dateModified\":\"2024-06-11T10:42:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small-1.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=558627"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/558406"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=558627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=558627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=558627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}