{"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 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>\nOrigin Of Ripple Customary 1 Billion XRP Routine<\/span><\/h2>\n