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Ripple Unlocks 1 Billion XRP, Locks 400 Million, Transfers to Bitstamp

Sep 1, 2024, 04:30 PM

Ripple has unlocked 1 billion XRP tokens, valued at over $560 million, from an official Ripple address. The release occurred in three transactions, distributing 500 million, 200 million, and 300 million XRP tokens. This significant release led to a drop in XRP's market price. Subsequently, Ripple locked 400 million XRP, worth approximately $221 million, back into escrow. Additionally, 20,580,000 XRP, valued at 11,542,509 USD, was transferred from an unknown wallet to Bitstamp.