Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Ripple’s unlock of 500 million XRP escrow threatens price as bulls struggle to hold $0.61
EXCHANGE NEWS

Ripple’s unlock of 500 million XRP escrow threatens price as bulls struggle to hold $0.61

By Crypto FlexsApril 12, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ripple’s unlock of 500 million XRP escrow threatens price as bulls struggle to hold alt=
Share
Facebook Twitter LinkedIn Pinterest Email

XRP is struggling at a higher level than any other cryptocurrency among the top 10 by market capitalization, and the bearish sentiment does not appear to be over yet. Ripple could unlock a huge amount of tokens from escrow, further threatening the price.

Ripple unlocks 500 million XRP.

In the early hours of Friday, on-chain whale tracking platform Whale Alert posted two transactions carrying notable numbers of XRP tokens. The first transaction unlocked 200 million tokens from the escrow wallet, worth $122.63 million at the time of transfer.

The second transaction took place a few minutes later when a total of 300 million XRP tokens were released from escrow. This second token tranche, larger than the first, was worth $183.89 million at the time, bringing the total number of tokens unlocked to 500 million. Both deals were worth a combined $300 million.

These unlocks have raised concerns in the Ripple community for several reasons. One of the reasons is that Ripple does not unlock it in the middle of the month. Rather, it performs scheduled unlocks at the beginning of each month. Therefore, these transactions caught the attention of the cryptocurrency community.

Another cause for concern is the fact that Ripple may sell these XRP tokens. This puts more tokens in circulation and puts more selling pressure on already struggling digital assets. However, Ripple has not shown any indication of what these unlocks are, as there have been no transfer transactions since then, only unlock transactions.

Can unlocking cause a price crash?

XRP unlocks are not new to the Ripple community, as scheduled unlocks occur monthly. These unlocks represent 1 billion XRP tokens unlocked from escrow as scheduled. However, in most cases, the majority of unlocked tokens will be transferred back to escrow.

Typically, these unlocks do not have a negative impact on altcoin prices, but unlocks are expected at this time. No unlocks were planned this time, leading to speculation as to why Ripple was unlocking XRP tokens outside of the unlock schedule.

So far, the XRP price doesn’t seem to be reacting at all to the unlocking. It showed a small loss of 0.91% in the past day and continues to trend around $0.61. However, the altcoin is still up 4.74% last week, showing the positive gains seen earlier in the week.

Token price at $0.6095 | Source: XRPUSDT on Tradingview.com

Featured image from Linqto, chart from Tradingview.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

Investors are the main level of support of the eyes.

June 6, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025
Most Popular

VanEck’s ‘Trends with Benefits’ podcast explores forward-looking market perspectives.

September 11, 2024

Michael Saylor is willing to advise Trump on cryptocurrency policy.

December 21, 2024

Cryptocurrency exchange OKX is fixing vulnerabilities in its iOS app and urging users to update.

December 20, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.