{"id":606183,"date":"2024-05-02T15:00:45","date_gmt":"2024-05-02T15:00:45","guid":{"rendered":"https:\/\/wncen.com\/?p=606183"},"modified":"2024-06-12T09:31:43","modified_gmt":"2024-06-12T09:31:43","slug":"ripple-unlocks-1-billion-xrp","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-unlocks-1-billion-xrp\/","title":{"rendered":"Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price?"},"content":{"rendered":"

On-chain data recently showed that <\/span>Ripple<\/span><\/a> carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of <\/span>manipulating the token\u2019s price<\/span><\/a>.\u00a0<\/span><\/p>\n

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

Onchain data <\/span>revealed<\/span><\/a> 500 million XRP tokens were unlocked from Ripple\u2019s escrow on May 1. The crypto firm is known to unlock <\/span>1 billion tokens monthly<\/span><\/a>, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on <\/span>the altcoin’s price<\/span><\/a> if dumped on the market.\u00a0<\/span><\/p>\n

Further analysis of the on-chain data shows that <\/span>Ripple<\/span><\/a> sent 300 million XRP out of the unlocked tokens to an escrowed account (<\/span>2Not4co2op<\/span><\/a>). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (<\/span>4vt5x1o91m<\/span><\/a>). Considering that the 200 million XRP tokens weren\u2019t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.\u00a0<\/span><\/p>\n

It is also worth mentioning that Ripple <\/span>received<\/span><\/a> another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately <\/span>sent<\/span><\/a> to an escrow account. As such, the<\/span>\u00a0community<\/span><\/a> can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.\u00a0<\/span><\/p>\n

Talks About Ripple Dumping On The Market Resurface<\/h2>\n

Following the latest token unlock, the crypto community has <\/span>reignited<\/span><\/a> talks about Ripple’s alleged dumping on <\/span>XRP holders<\/span><\/a>. The question of whether or not Ripple\u2019s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even <\/span>accusing<\/span><\/a> Ripple of intentionally suppressing the altcoin’s price with its sales.\u00a0<\/span><\/p>\n

On the other hand, people like Ripple\u2019s Chief Technology Officer (CTO) have <\/span>clarified<\/span><\/a> that the crypto firm\u2019s XRP sales do not impact the crypto token\u2019s price. Moreover, Ripple already <\/span>discontinued<\/span><\/a> programmatic sales, which means that its <\/span>transactions<\/span><\/a> cannot affect prices on crypto exchanges.\u00a0<\/span><\/p>\n

Ripple also noted in its <\/span>recent court filing<\/span><\/a> in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.\u00a0<\/span><\/p>\n

At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"XRP<\/p>\n

Price rises above $0.51 | Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from The Motley Fool, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token\u2019s price.\u00a0 Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple\u2019s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.\u00a0 Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren\u2019t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.\u00a0 It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the\u00a0community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.\u00a0 Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple\u2019s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.\u00a0 On the other hand, people like Ripple\u2019s Chief Technology Officer (CTO) have clarified that the crypto firm\u2019s XRP sales do not impact the crypto token\u2019s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.\u00a0 Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.\u00a0 At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.\u00a0 Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":606223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,88655,83363],"tags":[3680,17209,4531,83637,13172,10972,78763],"class_list":["post-606183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-ripple-2","category-xrp","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nRipple Unlocks 1 Billion XRP From Escrow - 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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 Unlocks 1 Billion XRP From Escrow – How Will This Impact Price?","url":"http:\/\/wncen.com\/news\/ripple-unlocks-1-billion-xrp\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple-unlocks-1-billion-xrp\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ripple-XRP.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Ripple-XRP.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":"2024-05-02T15:00:45Z","datePublished":"2024-05-02T15:00:45Z","dateModified":"2024-06-12T09:31:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-unlocks-1-billion-xrp\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-unlocks-1-billion-xrp\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Ripple-XRP.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Ripple-XRP.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\":\"2024-05-02T15:00:45Z\",\"datePublished\":\"2024-05-02T15:00:45Z\",\"dateModified\":\"2024-06-12T09:31:43Z\"}<\/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\/05\/Ripple-XRP.jpeg?fit=275%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606183"}],"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=606183"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/606223"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}