Ripple has flooded the market with a significant number of XRP unlocks that are likely to influence the asset’s price. On July 1, the blockchain company unlocked 500 million XRP from escrow, well below its usual monthly release of one billion tokens. The release began with the Ripple (27) wallet receiving the full 500 million XRP, valued at around $1.1 billion. This triggered a series of rapid transfers as Ripple carried out its routine token rebalancing. https://twitter.com/whale_alert/status/1940181423396155545 Within minutes, 200 million XRP (worth approximately $440 million) was transferred to the address “rN8pqR,” followed by another 300 million XRP (valued at about $660 million) sent to “rKwJaG.” Despite these outflows, the Ripple (27) wallet still held 500 million XRP after the transactions. Continuing its monthly token management strategy, Ripple then locked 400 million XRP back into escrow. This re-locking was handled by the Ripple (15) wallet, which received two separate transfers of 200 million XRP from the addresses “rGKHDy” and “rHGfmg,” executed within minutes of each other. Ripple 1 billion XRP unlocks Since late 2017, Ripple has typically released one billion XRP from escrow each month. However, beginning earlier this year, the company began conducting internal transfers before formal unlocks. In March, Ripple created new escrows using existing XRP holdings, a pattern that has continued in recent months. Attention now turns to how XRP will react to the latest unlock. Notably, past releases have had little impact on the token’s price, which has generally moved in line with the broader cryptocurrency market . Regulatory developments, especially the ongoing Securities and Exchange Commission case nearing its conclusion, have had a greater influence. XRP price analysis At press time, XRP was trading at $2.17, down about 1% in the last 24 hours and 0.8% lower over the past week. XRP seven-day price chart. Source: Finbold From a technical perspective, XRP is trading below its 50-day simple moving average ( SMA ) at $2.27, signaling potential short-term weakness. However, it remains well above the 200-day average at $1.81, suggesting a positive long-term trend. The relative strength index ( RSI ) at 50.04 indicates neutral momentum, with no clear buying or selling pressure. Featured image via Shutterstock The post Ripple just unlocked 500 million XRP appeared first on Finbold .
