{"id":602885,"date":"2024-04-12T15:00:44","date_gmt":"2024-04-12T15:00:44","guid":{"rendered":"https:\/\/wncen.com\/?p=602885"},"modified":"2024-06-11T07:42:09","modified_gmt":"2024-06-11T07:42:09","slug":"ripple-500-million-xrp-unlock","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-500-million-xrp-unlock\/","title":{"rendered":"Ripple\u2019s 500 Million XRP Escrow Unlock Threatens Price As Bulls Struggle To Hold $0.61"},"content":{"rendered":"

XRP has struggled to a higher degree compared to the others in the top 10 cryptocurrencies by market cap and it seems like the bearish sentiment is far from over. Ripple just unlocked a massive amount of tokens from escrow, which could threaten the price further.<\/p>\n

Ripple Unlocks 500 Million XRP<\/h2>\n

In the early hours of Friday, on-chain whale tracking platform Whale Alert posted two transactions carrying a notable number of XRP tokens. The first transaction<\/a> saw 200 million tokens unlocked from the escrow wallet, worth $122.63 million at the time of the transfer.<\/p>\n

Related Reading: Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish<\/a><\/div>\n

The second transaction<\/a> came minutes later when a total of 300 million XRP tokens<\/a> were also unclosed from escrow. This second tranche of tokens, being larger than the first, was worth $183.89 million at the time, bringing the total number of unlocked tokens to 500 million. Together, both transactions were worth over $300 million.<\/p>\n

These unlocks have, unsurprisingly, stirred concern in the Ripple community for a number of reasons. One of the reasons is that Ripple never does unlocks in the middle of the month. Rather, they do scheduled unlocks at the start of each month. So, these transactions have drawn the attention of the crypto community.<\/p>\n

Another cause for concern is the fact that Ripple could be selling these XRP tokens<\/a>. Hence, putting more tokens in circulation and adding more selling pressure to the already struggling digital asset. However, Ripple has not shown any indication of what these unlocks could be for as there have been no transfer transactions since then, just the unlock transactions.<\/p>\n

Unlocks Can Send Price Crashing?<\/h2>\n

XRP unlocks are not new to the Ripple community, as scheduled unlocks take place every month<\/a>. These unlocks see 1 billion XRP tokens unlocked from the escrow according to schedule. But most times, the majority of the unlocked tokens are sent back to escrow<\/a>.<\/p>\n

Related Reading: Crypto Analyst Predicts Shiba Inu Price Will Reach $0.0001 If This Happens<\/a><\/div>\n

Usually, these unlocks do not negatively affect the altcoin\u2019s price<\/a>, but that\u2019s when the unlocks are expected. This time around, the unlocks are unplanned, leading to speculation as to why Ripple would be unlocking XRP tokens outside of the unlock schedule.<\/p>\n

So far, the XRP price<\/a> seems to not be reacting to the unlock at all. It continues to trend around $0.61, with small losses of 0.91% in the last day. However, the altcoin is still seeing 4.74% gains in the last week, showing the positive upside that it saw earlier in the week.<\/p>\n

\"XRP<\/p>\n

Token price at $0.6095 | Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Linqto, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
XRP has struggled to a higher degree compared to the others in the top 10 cryptocurrencies by market cap and it seems like the bearish sentiment is far from over. Ripple just unlocked a massive amount of tokens from escrow, which could threaten the price further. Ripple Unlocks 500 Million XRP In the early hours of Friday, on-chain whale tracking platform Whale Alert posted two transactions carrying a notable number of XRP tokens. The first transaction saw 200 million tokens unlocked from the escrow wallet, worth $122.63 million at the time of the transfer. Related Reading: Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish The second transaction came minutes later when a total of 300 million XRP tokens were also unclosed from escrow. This second tranche of tokens, being larger than the first, was worth $183.89 million at the time, bringing the total number of unlocked tokens to 500 million. Together, both transactions were worth over $300 million. These unlocks have, unsurprisingly, stirred concern in the Ripple community for a number of reasons. One of the reasons is that Ripple never does unlocks in the middle of the month. Rather, they do scheduled unlocks at the start of each month. So, these transactions have drawn the attention of the crypto community. Another cause for concern is the fact that Ripple could be selling these XRP tokens. Hence, putting more tokens in circulation and adding more selling pressure to the already struggling digital asset. However, Ripple has not shown any indication of what these unlocks could be for as there have been no transfer transactions since then, just the unlock transactions. Unlocks Can Send Price Crashing? XRP unlocks are not new to the Ripple community, as scheduled unlocks take place every month. These unlocks see 1 billion XRP tokens unlocked from the escrow according to schedule. But most times, the majority of the unlocked tokens are sent back to escrow. Related Reading: Crypto Analyst Predicts Shiba Inu Price Will Reach $0.0001 If This Happens Usually, these unlocks do not negatively affect the altcoin\u2019s price, but that\u2019s when the unlocks are expected. This time around, the unlocks are unplanned, leading to speculation as to why Ripple would be unlocking XRP tokens outside of the unlock schedule. So far, the XRP price seems to not be reacting to the unlock at all. It continues to trend around $0.61, with small losses of 0.91% in the last day. However, the altcoin is still seeing 4.74% gains in the last week, showing the positive upside that it saw earlier in the week. Token price at $0.6095 | Source: XRPUSDT on Tradingview.com Featured image from Linqto, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":602924,"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":[3680,17209,4531,83637,13172,10972,78763],"class_list":["post-602885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nRipple\u2019s 500 Million XRP Escrow Unlock Threatens Price As Bulls Struggle To Hold $0.61<\/title>\n<meta name=\"description\" content=\"XRP has struggled to a higher degree compared to the others in the top 10 cryptocurrencies by market cap, and it's far from over.\" \/>\n<meta name=\"robots\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple\u2019s 500 Million XRP Escrow Unlock Threatens Price As Bulls Struggle To Hold $0.61","url":"http:\/\/wncen.com\/news\/ripple\/ripple-500-million-xrp-unlock\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/ripple-500-million-xrp-unlock\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/XRP_103303.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/XRP_103303.jpeg?fit=275%2C183"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","xrp","xrp news","xrp price","xrpusd","xrpusdt"],"dateCreated":"2024-04-12T15:00:44Z","datePublished":"2024-04-12T15:00:44Z","dateModified":"2024-06-11T07:42:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple\\u2019s 500 Million XRP Escrow Unlock Threatens Price As Bulls Struggle To Hold $0.61\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/ripple-500-million-xrp-unlock\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/ripple-500-million-xrp-unlock\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/XRP_103303.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/XRP_103303.jpeg?fit=275%2C183\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"xrp\",\"xrp news\",\"xrp price\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2024-04-12T15:00:44Z\",\"datePublished\":\"2024-04-12T15:00:44Z\",\"dateModified\":\"2024-06-11T07:42:09Z\"}<\/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\/2024\/04\/XRP_103303.jpeg?fit=275%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602885"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=602885"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/602924"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=602885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=602885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=602885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}