XRP price slips following latest one billion token release from escrow by Ripple
to data insights from Whale Alerts, the first transaction occurred at 12:00 a.m. , with a total of 300 million XRP tokens unlocked.
The second transaction featured the release of 200 million XRP, while the last transaction saw the firm unlock a total of 500 million XRP tokens from its escrow accounts. Thefrom escrow is a strategic business move designed to help cushion the liquidity of the cryptocurrency in circulation. The locking of XRP in escrow accounts dates back to 2017 with a defined approach to release the token gradually every month in a bid to prevent devaluing the digital currency. In line with the strategy, a total of one billion tokens were designed to be released every month over a 55-month period. Based on the projected timeline, the last tranche is set to be released by December 2023.
The deep ties between Ripple Labs and the XRP coin remains a major basis of contention in the company's
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