Ripple will unlock 1 billion of non-circulating XRP on October 1. This will happen as more monthly escrows from the token’s initial distribution reach finality, adding fuel to the company’s sales.
At current prices, the unlock’s nominal value is $640 million, which will be partially sold in the next few days.
According to public ledger data from XRPScan, two accounts hold the three escrows that will reach finality on September 30. Ripple (24) will unlock 500 million XRP in a single transaction, while Ripple (25) will release 400 million and 100 million XRP from two escrows previously programmed.
Notably, XRP has had one of the highest ongoing supply inflations among all cryptocurrencies since 2012. Ripple has unlocked and distributed over 56.5 billion XRP throughout that time, still holding over 43 billion tokens.
Ripple (24) and Ripple (25) accounts view – Escrows. Source: XRPScan / Finbold
Ripple’s previous 1 billion XRP unlock from September
Ripple unlocked 1 billion XRP on September 1, worth approximately $570 million, at Finbold’s reporting time on August 31. The company then reserved 200 million XRP in its treasury account, re-locking 800 million tokens in escrows to December 2027.
Monthly escrow Ripple (XRP), September 2024. Source: Finbold
As things developed, the company added 150 million more XRP to Ripple (1), the treasury’s liquid account for its sales. The selling activity followed as expected, with a 150 million XRP sale on September 13 and a 200 million XRP sale on September 23.
Ripple (1) account transactions. Source: XRPScan / Finbold
XRP price analysis and Ripple’s sales in 2024
Indeed, this was Ripple’s second-largest monthly sell-off in 2024, only behind June’s 400 million XRP dump.
The company sold 2.376 billion XRP this year, worth $1.51 billion at the current exchange rate. XRP is trading at $0.638 per token, up 4% year-to-date.
XRP daily price chart – Ripple’s year-to-date (2024) sales. Source: TradingView / Finbold
XRP investors should closely monitor Ripple’s selling activities as they could brutally impact the token’s price. Nevertheless, the popular cryptocurrency can still perform positively if it faces enough demand. A trading expert, for example, forecasts that XRP could reach $2 per token by 2025.
Other cryptocurrencies will also face significant unlocks and potential sell-offs in October, starting this first week, according to a Finbold report.
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