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Altcoin News

Ripple Unlocks 1 Billion XRP, Worth Approximately $510M

Ripple unlocks XRP from its escrow account in a series of transactions on 1st September.

Written By Gopal Solanky Gopal Solanky
Published 2023-09-01·Updated 6 months ago
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Kuwait Finance House Acknowledges Ripple's Role in Cross-Border Payments

The layer 1 blockchain, Ripple has unlocked a whopping 1 billion XRP supply on September 1. 

According to onchain transaction tracker WhaleAlert, Ripple has unlocked a total of 1 billion XRP from its escrow account.

🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 🔓 400,000,000 #XRP (204,298,705 USD) unlocked at #Ripplehttps://t.co/NATr33hobb

— Whale Alert (@whale_alert) September 1, 2023

The company has unlocked the supply in four consecutive transactions which all have the timestamp of 1st September 2023, 00:10 UTC. 

All these transactions were executed in the order of 300 million, 100 million, 200 million and last 400 million. The total valuation of this newly unlocked supply accounts to over $510 million.

Ripple Unlocking XRP token: Whale Alert

The transactions are sent to two different addresses which both have received an equal amount of 500 million XRP. Both these addresses (Address1, Address2) currently hold over 1 billion XRP, according to data from BlockChain explorer. 

The unlock is part of Ripple’s regular monthly distribution of XRP tokens from escrow, and with this strategic move, it aims to maintain the liquidity of XRP in the ecosystem. 

Also Read: Robinhood Ranked 5 Largest ETH Holder by Arkham Intelligence

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Gopal Solanky, Senior Reporter for Markets and Protocols at The Crypto Times
By Gopal Solanky Sr. Crypto Journalist
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Gopal Solanky is a Senior Reporter for Markets & Protocols at The Crypto Times, based in Ahmedabad. He covers institutional crypto adoption, Bitcoin treasury strategies, DeFi markets, protocol ecosystems, Ethereum network activity, Hyperliquid, on-chain trends, and broader digital asset market movements. Gopal has been active in the crypto ecosystem for more than six years. Before joining The Crypto Times full-time in 2023, he worked as a freelance crypto content writer, developing a strong understanding of blockchain infrastructure, DeFi protocols, market cycles, token mechanics, and peer-to-peer systems. His reporting focuses on explaining how protocols work, why market movements happen, and how institutional and on-chain activity affects crypto investors and builders. At The Crypto Times, Gopal also hosts on-the-record interviews with regional Web3 founders, protocol teams, and ecosystem leaders. His work has been cited by external publications, including Vulture.com, in coverage of major crypto stories such as the Hawk Tuah memecoin controversy. His reporting has also contributed to The Crypto Times’ coverage of major industry events, including FTX-related developments, institutional crypto adoption, and emerging protocol narratives. Gopal holds a Bachelor’s degree in Computer Applications, giving him a technical foundation for analyzing blockchain systems, crypto infrastructure, and market data.

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