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XRP Trades Down 3.5% After Ripple Unlocks 1 Billion Tokens From Escrow
Blockchain payments company Ripple released 1 billion of XRP from three escrow accounts on August 1, pushing the price of its native token down by 3.4% in the past 24 hours, according to CoinGecko data.
Harshvardhan
5:38 2nd Aug, 2022
Markets

In December 2017, Ripple created 55 escrow accounts to hold 55% of Ripple’s supply.

The escrows expire each month and the released XRP tokens are back in circulation.

Ripple was trading down 3.4% at US$0.370216 at 12:44 HKT, according to CoinGecko data.

In Q2 2022, Ripple sold US$408.9 million worth of XRP, according to its latest quarterly report.

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