The Ripple escrow unlock schedule has recently released an additional 500 million XRP to reach the 1 billion quota for May. In a series of two transactions, spaced 16 minutes apart, the escrow system distributed these XRP tokens yesterday. The first transaction, which occurred at 08:28 PM (UTC), involved the release of 100 million XRP valued at $53.38 million. Following this, an additional 400 million XRP, valued at $213.9 million, were released, bringing the total to 500 million XRP unlocked for this batch. Both transactions directed the tokens to the same address, which still holds them according to the latest reports.
Earlier this month, the same address had returned 500 million XRP back into escrow, contributing to the 800 million tokens that Ripple re-locked. Notably, the Ripple escrow unlock schedule deviated from its usual pattern by releasing only 500 million XRP on the first day of May. However, as revealed by The Crypto Basic, Ripple re-locked 800 million tokens into escrow after the initial release of 500 million XRP. With the latest release of 500 million XRP, the total amount of tokens unlocked from escrow in May reaches 1 billion, effectively balancing the Ripple escrow unlock schedule for this month.
This erratic pattern of escrow executions has been consistent throughout the year, with January being the only month that witnessed the typical Ripple escrow unlock schedule. In April, Ripple executed the release of 500 million XRP on the 1st, followed by an additional 500 million tokens 11 days later. March followed a similar pattern, with only 500 million XRP released on the first day of the month. In February, the Ripple escrow unlock schedule deviated again, with the release of 600 million XRP on Feb. 1 and 400 million on Feb. 25.
Although the XRP community generally expects the release of 1 billion tokens each month, the irregular schedule this year has raised concerns about potential price fluctuations. However, there has been no noticeable impact on the market as Ripple consistently re-locks 800 million tokens each month. It is worth noting that XRP has been on a recovery path, with a 5.85% increase this month, attempting to offset the 20.44% loss recorded in April. Yesterday, XRP reached a 9-day high of $0.5367 before facing bearish pressure. Currently, it aims to maintain its position above the psychological territory of $0.53, with a current price of $0.5302.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.
