Ripple Labs Releases 1 Billion XRP from Escrow Valued at $2.2 Billion
Ripple Labs released 1 billion XRP, valued at approximately $2.2 billion, from escrow, breaking its usual first-day-of-the-month routine. This change in strategy has been noted since March.
Key Details
- The release occurred in three transactions:
- 400 million XRP to Ripple 26, valued at $882.47 million
- 500 million XRP to Ripple 27, worth about $1.1 billion
- 100 million XRP back to Ripple 26, valued at $220.42 million
- Both Ripple wallets ended with 500 million XRP each.
- Ripple also locked 670 million XRP back into escrow, worth around $1.46 billion.
- The net increase in circulating supply is 330 million XRP, now totaling approximately 58.76 billion XRP.
- Whale Alert reported a separate movement of nearly 54 million XRP to Coinbase from two wallets.
- There is a 98% chance of SEC approving an XRP ETF by December 31, 2025, reflecting a 23% increase in optimism.
This update coincides with the SEC's review of the WisdomTree XRP Trust ETF filing and ongoing public comments regarding Grayscale’s application for a spot XRP ETF.