Ripple Releases 1 Billion XRP Tokens Once Again!
Ripple releases 1 billion XRP tokens! The big monthly move aims to keep the XRP market steady and strong.
Ripple, released 1 billion XRP tokens from its special storage, called escrow, on Oct. 1. This is something Ripple does every first day of a new month.
The release involved three big moves of money. The first was 400 million XRP ($205,914,675), followed by 100 million XRP ($51,478,668), and lastly, 500 million XRP ($257,393,344). Since December 2017, Ripple has used this escrow system to help keep the XRP market stable. They stored 55 billion XRP to be slowly released every month for 55 months, and the last release might be in December 2023.
Normally, 800 million XRP goes back into the escrow to be used next month, and around 200 million XRP joins the available money supply. Whale Alert, which watches cryptocurrency moves, also noticed Ripple moved 75 million XRP to an unknown wallet recently. XRP, being the fifth largest cryptocurrency, is doing well in October. Its price was $0.517 and had a small increase of 0.25% in the last 24 hours when this was written.
